Schroders taps TPG NewQuest exec for secondaries expansion

Schroders Capital has hired a professional from TPG NewQuest as it expands its Asia-Pacific operations.

Ankita Baheti joins the London-headquartered firm as an investment director, private equity, based in Singapore, according to a statement.

Baheti was previously a vice-president for TPG NewQuest, working from Mumbai where she focused on evaluating and managing investments across India and Southeast Asia, according to her profile on TPG’s website. Her responsibilities included due diligence, execution and monitoring, with a focus on working closely with portfolio companies to accelerate value creation.

She had joined NewQuest Capital Partners in 2018. TPG wholly owned NewQuest as of 2022, having previously acquired a minority stake in the Asian direct secondaries specialist in 2018.

Schroders’ private equity team transacts on around 100 investments globally each year worth around $2.5 billion; more than half of these are in secondaries and direct/co-investments, according to the statement.

The firm is investing its Schroders Capital Private Equity Secondaries IV vehicle, which has a $400 million target, according to Secondaries Investor data.

Schroders, which has Asia offices in Beijing, Shanghai and Seoul, in addition to Singapore, continues to focus on RMB investments in China through the Qualified Foreign Limited Partnership scheme, and is meanwhile looking to establish a dedicated India product, the statement noted.

– Katrina Lau contributed to this report.