India's booming private equity business witnessed another high profile move last week when Alagappan Murugappan, investment principal at Actis (formerly CDC) moved to Deeva Capital as partner.

At Actis, Murugappan was responsible for leading and coordinating fundraising activities relating to South Asia and for deal generation in India. At Deeva he will be one of three partners at the start-up equity firm with international seed funding.

He joined Actis in February 2004 from ICICI Securities, where he was head of investment banking.

Prior to this, he had had a long innings at Cazenove. Murugappan began his career with Cazenove in London and moved with the firm to India to spearhead its India operations.
He qualified as a solicitor in England and holds an LLM from Cambridge University.