Warburg India MD Niten Malhan quits

MUMBAI: American private equity fund Warburg Pincus’ India co-head and managing director Niten Malhan has quit the firm to start his own fund which will invest in listed companies, two people with direct knowledge of the development said.

Malhan, who has been the co-head and managing director for the past five years, is credited with many multi fold returns notable being the sale of Allianz Tire to rival private equity fund KKR which was later sold to Japanese Yokohama Rubber Company in 2016.

The fund, which has invested close to $4 billion in India, will now be headed by its co-head and managing director Vishal Mahadevia. “We are grateful to Niten Malhan’s valuable contributions to the firm over the past 16 years and wish him continued success in his new entrepreneurial venture,” the spokesperson for Warburg Pincus said in an email response.