Asia-focused alternative investment firm PAG has announced the appointment of Nikhil Srivastava as co-head of its private equity business.
Currently partner and head of India Private Equity at PAG, Srivastava will assume the new role effective immediately. He will also join the firm’s management committee.
Srivastava will co-lead the division alongside David Wong, partner and existing co-head of private equity, per the announcement.
The move follows the planned departure of Lincoln Pan, who is set to become the CEO of Jardine Matheson Holdings Ltd. Pan will remain with PAG until November.
Srivastava has led several notable investments at PAG, including the acquisition and listing of Nuvama Wealth Management and a major stake in Manjushree Technopack, one of India’s largest private equity deals this year.
He joined PAG in 2019 from KKR, where he worked across India, Singapore, and the US. Earlier in his career, he held roles at Goldman Sachs and semiconductor company Inphi Corp.
He holds an MBA from Harvard Business School and engineering degrees from Stanford University and BITS Pilani.
“Nikhil assumes this leadership position with an outstanding track record in deal-making, team leadership, and strategic execution, as well as a deep understanding of the region and ability to manage and grow our portfolio companies,” PAG executive chairman and co-founder Weijian Shan.
PAG manages over $55 billion in assets across its three core strategies—credit & markets, private equity, and real assets—and operates with more than 370 investment professionals in 15 offices worldwide.
In February, the firm announced the final close of its latest real estate investment fund with $4 billion in commitments, including co-investment capital, surpassing its $3.5-billion target.
Last year, PAG put $2.8 billion in capital to work and delivered over $3 billion in liquidity to its limited partners (LPs), during what was labelled as one of the sector’s most challenging years.
