Nikhil Srivastava elevated as Pag's co-head of PAG | Today news

Pag, an alternative investment firm in Asia-Pacific, increased its Indian head of private equity, Nikhil Srivastava, to jointly lead his overall private equity business. The appointment is in effect immediately, the firm, which manages $ 55 billion to assets, said Thursday. Srivastava, a partner, will also join the firm’s management committee and work with David Wong, partner and co-head of PAG Private Equity. Srivastava will follow up Lincoln Pan, partner and co-head of PAG Private Equity, leaving the firm to join as the CEO of Jardine Matheson Holdings Ltd. Lincoln will work at PAG until November this year, the firm said. Srivastava joins other Indian managers at KKR, Blackstone and Warburg Pincus who have held prominent leadership positions in Global Private Equity for the past three years. Blackstone’s Indian head, Amit Dixit, has been leading the firm’s Asia PE operations over the past few years. Warburg Pincus and KKR also elevated their respective Indian heads, Vishal Mahadevia and Gaurav Trehan, to lead the firms in Asia two years ago. Track Record “Nikhil takes on this leadership position with an excellent record in transaction, team leadership and strategic execution, as well as a deep understanding of the region and the ability to manage and grow our portfolio companies,” Shan, executive chairman and co-founder of PAG, said in a statement. Srivastava scaled down PAG’s Indian private equity platform from PAG and led large investments in Nuvama Wealth Management and Manjushree Technopack. Before Pag, Srivastava worked with KKR for almost a decade across India, Singapore and the US markets. He also worked at Goldman Sachs and inphi Corporation. Srivastava holds an MBA from Harvard Business School, a master’s degree in Electrical Engineering from Stanford, and a Bachelor’s Baccal Engineering of Bits Pilani. He also owns several patents, the firm said. PAG offers three core strategies in credit and markets, private equity and real assets. The firm manages capital of more than 300 investors in the Institutional Fund and has more than 370 investment staff. In India, PAG also invested in companies such as Sekhmet Pharmaceuticals, ACME Formulas and Pravesha.