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Former PE Exec Turns to Hedge Fund

Mar 05, 2014
Jing Chen

A former private equity executive is seeking to raise $100 million for his newly-launched hedge fund.

Bloomberg reported that former 3i Group head Anil Ahuja is looking to raise the money for India-focused IPEplus Fund 1 by the end of the year, with the initial $40 million by June. The fund, which started in October with $10 million of Ahuja’s own capital, invests in asset classes including futures, options, warrants, convertible securities, derivative instruments and synthetic financial instruments primarily related to Indian companies.

Singapore-based Ahuja told the news outlet that he made the switch to the hedge fund realm as returns from the private equity industry in India decreased and the number of unsuccessful firms exceeded winning ones since 2006.

Ahuja’s new hedge fund is managed by a unit of Carlyle Group -backed Indian stock broker India Infoline.


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