PE veteran Shashank Singh quits Apax Partners
private equity firm Apax Partners, Shashank Singh, partner in the firm’s and its head of India office, has decided to leave the PE firm, sources aware of the development told ET. Singh will be moving permanently to London, the sources added.
He joined Apax in 2004 in its London office and moved to the India office in 2007 and took charge after Neeraj Bharadwaj left the firm for Carlyle Group in 2013. «We can confirm that Shashank has decided to leave the firm and will transition towards the end of the year,» a spokesperson for Apax Partners said in an email response to ET's query.
«Rohan Haldea will oversee Apax’s India office with Anurag Sud managing day-to-day activities on the ground,» the spokesperson added. Singh led or participated in many marquee deals at Apax including the PE firm’s $330 million investment in iGate in 2011 to help it acquire a majority stake in Patni Computer Systems for $1.2 billion.
iGate was acquired by French IT services major Capgemini in 2015 for $4 billion, providing Apax an exit worth more than $1 billion. Other prominent deals that Singh was involved in include a $200 million investment in Fractal Analytics; a $350 million acquisition of Healthium MedTech from TPG and other shareholders; investments in listed companies such as Manappuram Finance, Cholamandalam Investment and Finance Company Limited, Apollo Hospitals and Zensar Technologies, as well as other deals such as Infogain, Azentio, Shriram City Union Finance,, GlobalLogic, TIM Hellas, Weather Investments, TDC, Bezeq and Synetrix.
Prior to joining Apax, Singh was a strategy consultant with Monitor Company, where he advised clients in the telecom and high technology sectors. He holds a first class MA in Economics from Cambridge
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