RE:RE:RE:Thoughts on Raghavan departure?Prem Watsa's India lieutenant Harsha Raghavan to hit with new PE fund Convergent
https://economictimes.indiatimes.com/industry/banking/finance/prem-watsas-india-lieutenant-harsha-raghavan-to-hit-with-new-pe-fund-convergent/articleshow/64425593.cms ET Bureau|Jun 02, 2018, 12.09 PM IST
With the launch of new fund, Raghavan has joined the bandwagon of fund managers who have quit global PE funds to try luck in fundraising market.
Reghu Balakrishnan
MUMBAI: Harsha Raghavan, former Managing Director & CEO of Fairbridge Capital Private Limited, an adviser to Prem Watsa's Fairfax India Holdings, has started a new innings with launching private equity fund - Convergent Finance LLP. Harsha, who quits Fairfax last month, will start the fundraising under Convergent soon.
Besides Harsha, who is the managing partner, two of his colleagues at Faifax - Sarvjit Bedi and Amruta Adukia have joined with Convergent as co-founding Partners.
"At present, I'm not able to disclose the details such as fundsize, deal size, areas of investments. But we will follow the investment pattern which is similar to what we did in Fairfax," Raghavan told ET. Mumbai based Convergent will make investments in both private and public companies in India, Raghavan added.
Harsha Raghavan who had been the MD & CEO of Fairbridge Capital since its inception in 2011, played a key role behind the investments worth $5 billion made by Fairfax in India.
Harsha has been involved with the Indian private equity industry since 1996 and previously served as head of India for Candover Investments, co-Head of India for Goldman Sachs PIA and Vice President of Indocean Chase Capital.