Financial services group JM Financial Ltd has appointed former UBS banker Anuj Kapoor as managing director and CEO of private wealth and venture capital funds platform, as the group looks to expand these businesses, said a person aware of the development.
In his new role, Kapoor will be responsible for JM’s wealth management business, including the international business and building the venture capital investments platform. Currently, JM Financial runs two funds under its venture capital funds platform - a private equity fund and a credit fund.
“JM wants to expand the funds business like other domestic players such as IIFL,” said the person cited above.
JM Financial is currently raising its third private equity fund and has managed to raise Rs164 crore for the first close of the fund. Its second fund has an AUM of Rs505 crore.
JM’s private wealth business manages an AUM of Rs64,683 crore as of Q3 FY22.
In his previous role, Kapoor was the head of global banking at UBS. He was involved in the revival of the investment bank at UBS from 2017 till recently having led several marquee equity transactions like IPO of HDFC Life and Raheja’s Mindspace REIT, ADR (american depositiry receipts) issuance for HDFC Bank, QIP (qualified institutional placement) for HDFC Ltd, Axis Bank and private placements for Byjus, MPL and Groww and a block sale of 5% stake in Bharti Airtel on behalf of QIF.
Kapoor also led several M&A transactions at UBS including sale of ACT Broadband to Partners Group, sale of Arysta to UPL, sale of ILFS’ road asset investment in China and sale of Bharat light and power.
Also led several bond transactions for issuers like Adani, HDFC bank, Lodha, Manappuram and IIFL and the leveraged finance loans for Blackstone when they acquired Mphasis and Essel Propack.
An email sent to JM Financial did not elicit a response till press time.
