Baer Capital Partners has opened an office in Mumbai to house its new Indian subsidiary, Baer Capital Partners (India).

Its first Indian investment vehicle is the Beacon India private equity fund. The local advisors to the fund will be Deepak Shahdadpuri - founder of GEM India Advisors and formerly principal of Reuters Venture Capital - and Rajeev Thakore, co-founder and chief executive of Jacob Ballas Capital.

It will be a provider of growth capital to Indian companies, with a sector focus on consumer-oriented businesses, infrastructure and other manufacturing and services businesses.

Baer Capital Partners plans various offshore investment vehicles targeting India, including private equity and hedge funds. The firm also intends to build an investment banking and private banking business in India.

Baer Capital Partners was launched in 2006 with a focus on investment management, corporate finance and wealth advisory business and has a presence in Dubai, London and Zurich.