Advent loses operating partner to Morgan Stanley

P Jayendra Nayak is leaving Advent International less than a year after joining the firm to lead the bank's Indian efforts.

P Jayendra Nayak, an operating partner at mid-market buyout firm Advent International, is set to join Morgan Stanley as the Wall Street bank’s chief executive officer and country head for India.
Nayak joins the bank on 5 April. 
Nayak joined Advent International in July 2009 from Axis Bank, where he was chairman and chief executive, as the firm sought to grow its presence in India and establish its first office in the country in Mumbai. At Advent, he was charged with identifying investment opportunities, particularly in the financial services sector.
In September 2009, Advent hired Shweta Jalan as a director for its India operations. Jalan was formerly a director at ICICI Venture, one of India’s largest private equity and real estate firms. The firm currently has three other investment professionals on its Indian team. 
Thus far, Advent has completed one transaction in India, investing an undisclosed amount in Chennai-headquartered Computer Age Management Services, which offers transaction processing and investor record keeping services to the financial services sector. The deal, made in October 2007, was a joint venture with Indian financial conglomerate HDFC and financial software specialist Acsys Software India.
Advent opened its first Asian office in Tokyo in 2001.