Ex-Merrill Lynch India i-banking unit head Munesh Khanna starts $300 mn distressed assets PE fund
Posted by dealcurry on March 15, 2007
Former head of investment banking at Merrill Lynch India Munesh Khanna has raised $300 mn-private equity fund to invest in companies that are distressed or need management help to revive their finances.
Munesh Khanna’s new private equity firm Halcyon Group, has been started along with Narayan Seshadri, ex-head of Andersen Business Consulting in India, and Abhay Soi, who oversaw the financial restructuring group at Ernst & Young. Halcyon will target annual returns of 25%, and would make investments in asset-backed businesses, including textile and paper manufacturers.
Munesh Khanna oversaw the Indian unit of NM Rothschild and worked at Arthur Andersen in India for 17 years before he joined Merrill Lynch. Amit Chandra, his former boss at Merrill Lynch, is also starting a private-equity fund, called New Silk Route Partners.
Read more in the Business Standard article.
