Goldman Sachs’ Sanjeev Mehra to retire

Sanjeev Mehra, one of the founders of Goldman Sachs Group’s private equity business, will retire after almost 30 years with the US bank, according to reports.

Mehra served as vice-chairman of the bank’s private equity unit and a managing director of the Goldman Sachs Group. He was previously co-head of the Americas private equity business. In 2007, he started the firm’s buyout business in India.

He will become an advisory director after stepping down, the bank’s head of merchant banking Richard Friedman wrote in a memorandum to employees, according to Bloomberg. Goldman Sachs has not yet named who will take over Mehra’s responsibilities.

Mehra began his career at Goldman Sachs in 1986 in the corporate finance division. He was named partner in 1998. He led the $7 billion buyout of business services company Aramark and the $3.3 billion deal for Hawker Beechcraft in 2007. He was involved in the banks’ acquisition of custodial services provider GCA Services Group from Blackstone Group for about $950 million in November last year.

He serves as a director at several portfolio companies including financial services company Max India Limited, supply chain company Neovia Logistics Holding and metal parts manufacturer Sigma Electric.

Last year, Mehra turned angel investor and committed an undisclosed sum to Indian mobile food and restaurant app DishCo, according to reports.