Nikhil Srivastava elevated as PAG's private equity co-head

PAG, an Asia-Pacific-focused alternative investment firm, has elevated its India head of private equity, Nikhil Srivastava, to jointly lead its overall private equity business.

The appointment is effective immediately, the firm, which manages $55 billion in assets, said on Thursday. Srivastava, a partner, will also join the firm’s management committee, and will work alongside David Wong, partner and co-head of PAG Private Equity. 

Srivastava will succeed Lincoln Pan, partner and co-head of PAG Private Equity, who is leaving the firm to join as the chief executive officer of Jardine Matheson Holdings Ltd.

Lincoln will work at PAG until November this year, the firm said. 

Srivastava joins other Indian executives at KKR, Blackstone and Warburg Pincus who have taken on prominent leadership positions in global private equity over the last three years. Blackstone's India head Amit Dixit has been leading the firm's Asia PE operations over the last several years. Warburg Pincus and KKR also elevated their respective India heads, Vishal Mahadevia and Gaurav Trehan, to lead the firms across Asia two years ago. 

Track record

“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,” Shan, executive chairman and co-founder of PAG, said in a statement. 

Srivastava has scaled PAG’s India private equity platform and led large investments in Nuvama Wealth Management and Manjushree Technopack. Before PAG, Srivastava worked across India, Singapore, and the US markets with KKR for nearly a decade. 

He has also worked at Goldman Sachs and Inphi Corporation. Srivastava holds an MBA from Harvard Business School, a master’s in electrical engineering from Stanford, and a bachelor’s in electrical engineering from BITS Pilani. He also owns several patents, the firm said. 

PAG offers three core strategies in credit and markets, private equity, and real assets. The firm manages capital of over 300 institutional fund investors and has over 370 investment professionals. 

In India, PAG has also invested in companies such as Sekhmet Pharmaceuticals, Acme Formulations and Pravesha.