KKR picks Gaurav Trehan to replace long-standing India head Sanjay Nayar

Global buyout major KKR on Monday said Gaurav Trehan, a recent hire from rival TPG, will replace its long-standing India head Sanjay Nayar.

Nayar, who has been with the private equity fund since 2009, will transition to a new role as chairman of KKR India, an official statement said.

Trehan joined KKR earlier this year from TPG Capital Asia, where he was a partner in the India office. He will head KKR's private equity business in India.

"We are grateful to Sanjay for his role in establishing our business in India, partnering with and empowering local entrepreneurs to build their businesses into local and global champions, making KKR a leading investor in India, and helping to grow our Asia Pacific business," Joseph Bae, KKR's co-president and co-chief operating officer, said.

KKR entered India in 2006 and established its Mumbai office in 2009. It has so far deployed USD 5.8 billion in private equity bets and USD 10 billion across other assets, as per the statement.

From December 31, Nayar will "advise and assist KKR's India business" by leveraging his connectivity and experience across the country, and Bae said the company is looking forward to his continued support in the new role.

Nayar serves as a director on KKR's portfolio companies -- including Radiant LifeCare, Max Healthcare Institute, Avendus Capital, Max Financial Services, Ramky Enviro Engineers, and Sterlite Investment Managers, as per his profile on KKR website.

He was a director on the board of Cafe Coffee Day Enterprises before resigning in November 2019. The founder of the company V G Siddhartha, who committed suicide in August 2019, had allegedly written a suicide note in which had mentioned about facing pressure from a private equity fund manager.

Trehan has spent more than 15 years in the industry, and evaluated and executed private equity transactions across a diverse range of sectors in India, the statement said.

He has worked in the mergers, acquisitions, and restructuring department of Morgan Stanley with a focus on the technology sector, it said.

"With his strong investment acumen, relationship-oriented mindset, and his track record of creating value in companies, we are confident he (Trehan) will enable us to augment our ability to support the local economy and take homegrown businesses to the next phase of growth and development," Ming Lu, head of KKR Asia Pacific, said.