Fairfax-backed IIFL Wealth and Asset Management (IIFL AMC) has appointed Anshuman Goenka as the head of private equity (PE) with immediate effect, the company said in an announcement.
Goenka, starting from 23 August 2021, will spearhead the PE practice and work towards identifying new growth opportunities for the business in the unlisted space, it said.
In his previous stint as a director with Bahrain-based global manager of alternative investment products Investcorp, formerly known as IDFC Alternatives in India, he led investments in healthcare and financial services since 2015. Some of the key transactions under him include InCred Financial Services, ASG Hospitals, Citykart Retail, Bewakoof Brands, Nephrocare Health Services, Sembcorp Green Infra and GMR Energy.
Prior to that, Goenka briefly worked at Banyan Tree Finance and around two and a half years at Standard Chartered PE where he managed the fund's investment in Privi Organics Ltd.
He also had a stint with Baer Capital Partners where he led investments in The Ratnakar Bank Ltd, National Stock Exchange, a2z Maintenance and Engineering, New Horizon Media and Everest Kanto Cylinders.
Prior to his PE career, Goenka started at Accenture as a consultant and later tried a hand at Boston Consulting Group (BCG) and Rabo India Securities.
IIFL AMC is part of Mumbai-based financial services provider IIFL Group which advises more than 6,700 wealthy families handling aggregate assets under management (AUM) of more than $38 billion.
The Mumbai-listed asset manager has a presence in four major global financial hubs and 23 locations in India with more than 800 employees. It has mutual funds (MFs), portfolio management services (PMS) and alternate investment funds (AIFs) across public and private equity, fixed income and real estate in its product suite.
IIFL AMC counts private equity firm General Atlantic and Canadian investment firm Fairfax among its key investors. As on June end 2021, General Atlantic held a 21.17% stake and Fairfax owned 18.36% equity ownership.
IIFL Private Equity is a part of IIFL AMC and has been active in the private equity ecosystem since late 2015.
Across multiple strategies, it manages AUM of more than $2 billion from early-stage to late-stage investments across consumer, technology, financial services and healthcare space.