Warburg Pincus’ India head quits

The firm's European head will replace Rajesh Khanna, who has resigned to establish an Indian investment business.

Dalip Pathak, currently the head of Warburg Pincus' European operations, will now oversee investment activities in India as well, following the resignation of Rajesh Khanna.

Khanna, who joined Warburg Pincus in 1995, manages the private equity firm’s Mumbai office and leads its investment activities in India. He is leaving the firm to ‘pursue the formation of an independent investment business’ in India, Warburg Pincus said in a statement. Khanna is expected to set up his own private equity fund, according to various Indian media reports. 
Pathak was instrumental in consolidating Warburg Pincus’ presence in India, the firm said. Prior to joining Warburg Pincus in 1994, Pathak was chief of mission of the International Finance Corporation in Thailand. 

Rajesh Khanna

Besides Pathak, who is based in London, the firm has three managing partners based out of its Mumbai office: Niten Malhan, Leo Puri and Vishal Mahadevia. 

Warburg Pincus was one of the first global private equity firms to set up shop in India. The firm established its Mumbai office in 2001 and has been investing in the country since 1994. It has invested more than $2 billion in India over the last ten years. 
The firm’s most talked about Indian deal was its investment in telecommunications service provider Bharti Airtel. In 1999, the firm invested around $300 million in the company and it realised about $1.9 billion from the sale of its shares through a series of partial exits. 
Some of its other Indian investments include Gangavaram Port, which is located in the Indian state of Andhra Pradesh; Max India, a multi-business corporate providing healthcare and life insurance services; Punj Lloyd, an engineering, procurement and construction company; and Kotak Mahindra Bank and ICICI Bank, both private sector banks.