There is definite proof that sustainability-focused funds are outperforming their conventional counterparts. But some experts believe the traditional explanations for this are wrong.
Some of Warburg PincusÆ most lucrative Asia investments have been in India. The firmÆs returns from its investment in Sunil MittalÆs telco, Bharti (now Bharti Airtel), are widely regarded as unleashing a flood of private equity money into India, as other firms tried to emulate the Warburg Pincus experience. More recently, Warburg Pincus was an investor in WNS Holdings, IndiaÆs first business process outsourcing (BPO) company to be listed on the NYSE. It multiplied the value of its investment when WNS listed last year.
In late 2006, Pulak Prasad, Warburg Pincus managing director based in Mumbai announced he was resigning to pursue entrepreneurial ambitions. The move was seen as a significant loss for Warburg Pincus; Prasad had been associated with a number of the firmÆs large-ticket investments including Bharti and was very highly regarded. In hiring Puri, it seems Warburg Pincus is seeking to cement this gap.
Puri is a post-graduate in politics, philosophy and economics from Oxford University and was most recently a director of McKinseyÆs practice in India and a co-leader of the financial services practice in Asia for the consulting firm.
"India is a high priority market for our firm and his deep expertise in financial services and broad India experience will be of great value to our firm," says Charles Kaye, co-president of Warburg.
Puri is expected to be based in Mumbai after a stint with Warburg Pincus' offices in the US. In Mumbai, Rajesh Khanna is also a managing director with Warburg Pincus. Other than Mumbai, Warbug Pincus has Asia offices in Beijing, Hong Kong, Shanghai and Tokyo.
Recently, Puri told a reporter in an interview that he felt the environment for private equity in India was far more benevolent and mature than elsewhere in Asia. His actions suggest he truly believes the opportunity in private equity in India is worth being a part of.
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The number of millionaires in mainland China grew by 35% in 2020, while the number of millionaires in Hong Kong fell by 7%, according to a new report from the private bank.
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Asia Pacific alternatives market to grow to $6tr by 2025; Australian private capital assets rose to A$77 billion in mid-2020; Chinese authorities limit cash management products holding riskier securities; Indonesia's sovereign wealth fund to acquire several toll roads; Korean institutional investors support scheme to buy US asset-backed securities; and more.