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Ex-Asia Head For Deutsche Bank Buys Into India-Owned Finance Firm - Report
Tom Burroughes
1 November 2016
Former Asia head Gunit Chadha is set to buy a minority stake in IndoStar Capital Finance, a finance company floated by private equity firm Everstone Capital, and take charge as its chairman, the Economic Times (of India) reported yesterday. Chadha, who till July was chief executive of Deutsche Bank's Asia-Pacific operations, and IndoStar management will sign a formal agreement “anytime soon”, the publication quoted two unnamed sources as saying. In his role, Chadha will steer the private lender towards the retail segment from its established corporate focus, the report said, adding that spokespeople for Everstone Capital and IndoStar declined to comment. Everstone was established in 2006 and is described in the report as the largest India-focused private equity firm.