Heard on the Street

India's largest private equity player, ICICI Venture, has finalised the last of its five presidents, as part of its exercise to rejig the core management team. The PE firm has hired Parth Gandhi, who comes from Navigator Capital Advisors, the advisory arm of the UK-based hedge fund, Fursa. Mr Gandhi, who will be in charge of investments, will report to Vishakha Mulye, MD & CEO of ICICI Venture. With this latest hire, the new core team at the firm is in place.

In July this year, ET had reported that the PE firm was going in for a large-scale revamp of its core team. The team now has Rajeev Bakshi (joint MD), five presidents ��� Prashant Purker, Sumit Chandwani, Jayanta Banerjee, KS Jangbahadur, & Parth Gandhi ��� and three directors, including Vandana Rajadhyaksha, Anand Vyas, and Sunay Mathure.

ICICI Venture came under the media glare when Subhiksha ��� the retail firm, where it was a key shareholder ��� ran into trouble, and a lot of its senior personnel made an exit from the company.

Contributed by Deeptha Rajkumar