PAG elevates India head Nikhil Srivastava as Co-Head of Private Equity

PAG, a leading Asia-Pacific focused alternative investment firm, appointed Nikhil Srivastava, Partner and Head of India Private Equity, as Co-Head of PAG’s Private Equity business, according to a company statement. Nikhil will also join the firm’s Management Committee, and will work alongside David Wong, Partner and Co-head of PAG Private Equity, to lead PAG’s private equity operations.

Nikhil will succeed Lincoln Pan, Partner and Co-Head of PAG Private Equity, who has accepted a role as Chief Executive Officer of Jardine Matheson Holdings Limited. Lincoln will serve PAG until November this year, it said.

Nikhil has played a pivotal role in building and scaling PAG’s India private equity platform.

He has led several landmark investments, including the acquisition and public listing of Nuvama Wealth Management, and Manjushree Technopack, one of the largest PE transactions in India this year, among others, it said.

Nikhil joined the firm in 2019 after working across India, Singapore, and the United States markets with KKR for nearly a decade. Prior to that, he worked at Goldman Sachs and Inphi Corporation.

Nikhil holds an MBA from Harvard Business School, a master’s in electrical engineering from Stanford, and a bachelor’s in electrical engineering from BITS Pilani. Nikhil is also the author of several patents.

PAG has deployed over $1.7 billion in India since setting up office in 2019. Its major investments include Nuvama Wealth Management, CDMO company Acme Formulations; RK Pharma Inc; and Sekhmet Pharmaventures.

PAG is a leading Asia-Pacific-focused alternative investment firm which manages over $55 billion in capital on behalf of nearly 300 global institutional investors. PAG Private Equity manages four pan-Asian buyout funds and two growth funds with $19 billion of capital under management.

Weijian Shan, Executive Chairman and Co-Founder of PAG, said: “Nikhil assumes this leadership position with an outstanding track record in deal-making, team leadership, and strategic execution, as well as a deep understanding of the region and ability to manage and grow our portfolio companies.”

Last year, PAG made one of its largest deals in India by acquiring Manjushree Technopack Ltd, India’s largest rigid plastic packaging solution provider. PAG bought Manjushree from the US fund Advent International at a valuation of $1 billion.