At a time when India’s securities regulators are considering changes to the country’s nascent private funds regime, the Indian Private Equity & Venture Capital Association (IVCA) has put in new leadership.
At the helm is Sanjay Nayar, who oversees KKR’s India operations from Mumbai. He is also a member of the firm’s Asia portfolio management committee.
The New Delhi-based trade group also elected Gopal Srinivasan, head of India private equity firm TVS Capital, as its new vice chairman.
Nayar and Srinivasan will hold the posts through March 31, 2016, at which time Srinivasan will reportedly take over as chairman.
The Securities and Exchange Board of India (SEBI) recently assembled an 18-member panel of industry representatives to review the country’s rules on alternative investment funds. The Alternative Investment Policy Advisory Committee (AIPAC), led by Infosys founder NR Narayana Murthy, will reportedly review tax rules and foreign investment regulations to ease private capital fundraising in India.
Nayar and Srinivasan are both members of the panel, along with The Carlyle Group’s Devinjit Singh, TPG Growth India’s Manish Chokhani and PwC India’s Gautam Mehra.
Earlier in 2012, India introduced a more comprehensive private funds regime as a way of meeting international best standards.
The rules were in part introduced as a way of distinguishing private equity investors from their cousins in venture capital, as previously reported on pfm.