PE funds hiring execution-level talent in India
PE funds are hiring execution-level talent in India.
Economic Times reports that as global and domestic private equity funds step up their India presence in the second lap of their journey in the country, they are beefing up their teams with junior-level talent to help them source and execute deals better. And the funds are paying these young undergraduates and graduates from top Indian and global institutes, in the age group of 23-28, anywhere between Rs 35 and Rs 80 lakh, say headhunters and industry experts.
There have been more than two dozen people in that age group who have been hired across funds in the past 12-18 months. Barings Private Equity Asia hired Rohit Agarwal in March this year, Advent International hired analysts Deepanshu Agarwal in 2016 and Aamir Zeb in 2015, Blackstone hired Nikhil Goyal and Sabah Farheen, and Vedant Saboo as analysts in 2015, to name a few.
With half the talent in these funds at the vice president, director and partner levels, they have become top-heavy over the years. And now with funds shrinking and allocation from global investors being limited, funds are prompted more to focus on junior-level talent for execution support.
In the past one year, there has been a 50 per cent increase in demand for junior-level talent in the PE industry, search industry estimates suggest. In 2016, search firm Vito India has carried out 25 mandates in analyst and associate level at private equity firms compared with about 10 a year ago.
"Contrary to the BFSI hiring activity, PE funds continue to be bullish on hiring and have been actively recruiting at junior- to mid-levels," said Sonali Manek, practice lead-private equity at executive search firm Vito India. As funds grow in size, they do not need more people at the senior level, but at the execution level, she said.