Aluri Rao to head Morgan Stanley PE in India

Aluri Srinivasa Rao would run the private equity investment business in the country, a press release issued here said.     

Rao joins the firm from ICICI Venture as a managing director. Morgan Stanley Private Equity Asia's Hong Kong-based managing director and CEO, Chin Chou, said: "Building on our successful track-record in China and Korea, and across other markets in Asia, we are excited to be entering the India market."

"We see significant investment opportunities and are delighted to have attracted a world-class professional such as Aluri to join the regional team and to run our private equity platform in India," he added.

Morgan Stanley Private Equity Asia will invest in India through its third Asia-dedicated private equity fund, the $ 1.5 billion Morgan Stanley Private Equity Asia III Fund, which closed in the third quarter of 2007.

The fund's investors comprise leading global institutions and high networth individuals as well as Morgan Stanley and its employees.