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Paul Capital looks for deals in India

The secondaries firm has hired two deal sourcing agents in Mumbai as it looks to expand its presence in emerging markets.

Paul Capital has hired two deal sourcing agents in India to help expand the firm’s Asian operations.

The secondaries specialist has retained Anand Sunderji and Akshat Shukla, who will be responsible for sourcing and evaluating secondary private equity transactions in India. Sunderji was previously the co-head of the private equity funds of funds operations at Guggenheim Capital Management (Asia) in Mumbai. Shukla most recently managed the Indian investment strategy for Adveq Management AG.

“We continue to anticipate increasing activity in the global secondary market and are excited to further deepen our geographical expertise within Asia,” co-head of Paul Capital’s Asia team, Lucian Wu, said in a statement.

“[Sunderji] and [Shukla] have built an extensive network across the Indian private equity ecosystem that will enhance our transaction sourcing efforts,” said Paul Capital partner Bryon Sheets.

Paul Capital is one of few secondaries firms with emerging markets operations, and was the first secondaries firm to open an office in Latin America, partner Simon Guenzl told PEI in an earlier interview.

Last month, the firm named Jason Sambanju managing director and co-head of Paul Capital’s Asian operations, based in Hong Kong.

Paul’s ninth secondaries fund closed on $1.65 billion in 2008. The firm manages $7.6 billion across three investment platforms: private equity secondaries, healthcare royalty and revenue interests and venture funds of funds.

Launched in 1991 as a provider of secondary liquidity to investors in private equity limited partnerships and portfolios of direct investments, the firm is based in New York and has offices in Hong Kong, London, Paris, San Francisco and São Paulo.