Warburg replaces head of Mumbai office

Warburg is promoting Niten Malhan and Vishal Mahadevia to lead the firm’s business in India, where the firm has been active since 1994.

Warburg Pincus is making big changes at its Mumbai office, handing the reins from managing director Dalip Pathak to managing directors Niten Malhan and Vishal Mahadevia. Pathak will remain at Warburg to focus on “a broader range of firm-wide initiatives including sourcing cross-border opportunities”, the firm said in a statement.

“We’ve been planning this for some time and are delighted to announce that Niten and Vishal are assuming leadership in the India office,” co-president of Warburg Chip Kaye said. “We look forward to Dalip’s continued contributions while serving as a resource to Niten and Vishal.”

Malhan and Mahadevia will assume their new roles as co-heads of the firm’s India operation at the beginning of 2012.

The firm declined to comment beyond the release.

Warburg opened its Indian office in 1994, the same year Pathak joined the firm. Prior to Warburg, Pathak was the chief of mission of the International Finance Corporation, a member of the The World Bank Group, in Thailand.

Malhan joined the firm in 2001. He was previously an engagement manager with McKinsey & Company in New Delhi, Jakarta and Boston and was a director of business development for a Silicon Valley start-up Stratum8, where he led business development activities.

Mahadevia has been with the firm since 2006. Previously, he was a principal at Greenbriar Equity Group, which focuses on private equity investments in the transportation sector. He also worked at Three Cities Research and as a consultant with McKinsey & Company.

Affiliates of the firm have invested around $3 billion in companies based in the country. In May, Warburg invested an undisclosed amount in Indian energy company Diligent Power, which will be used to build a 1,200 MW coal-based thermal power plant in the state of Chhattisgarh and a 1,320 MW super critical thermal power plant in the state of Madhya Pradesh.