Asset management vertical in the company would strategize and focus on alternatives including private investment in public equity (PIPE).
InCred Capital has hired Ex Blackstone official Punita Sinha to look after its asset management business. Set up by former Deutsche Bank, unit of non-banking finance firm is looking to expand to MSME focused Non-Banking Finance Company (NBFC).
Our aim is to expand into the investment advisory business. With Punita Sinha former Blackstone Group public equity business head on board, InCred would be setting up a dedicated portfolio management service (PMS), which will take exposure in Indian equities, said sources with knowledge of the mater to Economic Times.
Sinha spearheaded the world’s largest alternative asset manager Blackstone Group’s public equity business in India. Earlier, she was also managing director of Oppenheimer and managed mutual fund business of the company. Backed by high profile investors, asset management business is one of the most important verticals of InCred Capital. The vertical would be developing strategies which include private investment in public equity (PIPE).
At present, InCred has about Rs 2000 cr assets under management, which includes some high profile investors like Anshu Jain, Ranjan Pai, etc… Nitin Rao, leader of wealth management vertical of InCred would be joined shortly by a global private banking veteran, said a source.
InCred Capital has launched a structured credit business within this division and is looking at special situation transactions. Also, a senior executive will spearhead the capital markets and advisory units at InCred.