Latest news with #Asia-Pacific-focused
Mint
5 days ago
- Business
- Mint
Nikhil Srivastava elevated as PAG's private equity co-head
PAG, an Asia-Pacific-focused alternative investment firm, has elevated its India head of private equity, Nikhil Srivastava, to jointly lead its overall private equity business. The appointment is effective immediately, the firm, which manages $55 billion in assets, said on Thursday. Srivastava, a partner, will also join the firm's management committee, and will work alongside David Wong, partner and co-head of PAG Private Equity. Srivastava will succeed Lincoln Pan, partner and co-head of PAG Private Equity, who is leaving the firm to join as the chief executive officer of Jardine Matheson Holdings Ltd. Lincoln will work at PAG until November this year, the firm said. Srivastava joins other Indian executives at KKR, Blackstone and Warburg Pincus who have taken on prominent leadership positions in global private equity over the last three years. Blackstone's India head Amit Dixit has been leading the firm's Asia PE operations over the last several years. Warburg Pincus and KKR also elevated their respective India heads, Vishal Mahadevia and Gaurav Trehan, to lead the firms across Asia two years ago. 'Nikhil assumes this leadership position with an outstanding track record in deal-making, team leadership, and strategic execution, as well as a deep understanding of the region and ability to manage and grow our portfolio companies,' Shan, executive chairman and co-founder of PAG, said in a statement. Srivastava has scaled PAG's India private equity platform and led large investments in Nuvama Wealth Management and Manjushree Technopack. Before PAG, Srivastava worked across India, Singapore, and the US markets with KKR for nearly a decade. He has also worked at Goldman Sachs and Inphi Corporation. Srivastava holds an MBA from Harvard Business School, a master's in electrical engineering from Stanford, and a bachelor's in electrical engineering from BITS Pilani. He also owns several patents, the firm said. PAG offers three core strategies in credit and markets, private equity, and real assets. The firm manages capital of over 300 institutional fund investors and has over 370 investment professionals. In India, PAG has also invested in companies such as Sekhmet Pharmaceuticals, Acme Formulations and Pravesha.
Time of India
5 days ago
- Business
- Time of India
PAG elevates India head Nikhil Srivastava as Co-Head of Private Equity
Live Events (You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel PAG, a leading Asia-Pacific focused alternative investment firm, appointed Nikhil Srivastava , Partner and Head of India Private Equity , as Co-Head of PAG's Private Equity business, according to a company statement. Nikhil will also join the firm's Management Committee, and will work alongside David Wong, Partner and Co-head of PAG Private Equity , to lead PAG's private equity operations Nikhil will succeed Lincoln Pan, Partner and Co-Head of PAG Private Equity, who has accepted a role as Chief Executive Officer of Jardine Matheson Holdings Limited. Lincoln will serve PAG until November this year, it has played a pivotal role in building and scaling PAG's India private equity has led several landmark investments, including the acquisition and public listing of Nuvama Wealth Management , and Manjushree Technopack , one of the largest PE transactions in India this year, among others, it joined the firm in 2019 after working across India, Singapore, and the United States markets with KKR for nearly a decade. Prior to that, he worked at Goldman Sachs and Inphi holds an MBA from Harvard Business School, a master's in electrical engineering from Stanford, and a bachelor's in electrical engineering from BITS Pilani. Nikhil is also the author of several patents. PAG has deployed over $1.7 billion in India since setting up office in 2019. Its major investments include Nuvama Wealth Management, CDMO company Acme Formulations; RK Pharma Inc; and Sekhmet is a leading Asia-Pacific-focused alternative investment firm which manages over $55 billion in capital on behalf of nearly 300 global institutional investors. PAG Private Equity manages four pan-Asian buyout funds and two growth funds with $19 billion of capital under Shan, Executive Chairman and Co-Founder of PAG, said: 'Nikhil assumes this leadership position with an outstanding track record in deal-making, team leadership, and strategic execution, as well as a deep understanding of the region and ability to manage and grow our portfolio companies.'Last year, PAG made one of its largest deals in India by acquiring Manjushree Technopack Ltd, India's largest rigid plastic packaging solution provider. PAG bought Manjushree from the US fund Advent International at a valuation of $1 billion.
CNBC
01-05-2025
- Business
- CNBC
Amazon's ad business grew 19% in first quarter, topping estimates
Amazon reported a 19% increase in online ad revenue in the first quarter, beating analyst estimates. Ad sales climbed to $13.92 billion, while analysts on average were expecting $13.74 billion, according to StreetAccount. The numbers were contained in Amazon's first-quarter earnings report. The company reported total first-quarter sales of $155.67 billion, compared to Wall Street projections of $155.04 billion. Although Amazon's online ad business represents a fraction of overall sales, it's emerged in recent years to become the third-biggest platform in the global digital advertising market, behind only Alphabet and Meta. Online advertising is a particular area of focus for investors due to economic uncertainty and increasing tensions between the U.S. and China over trade. While President Donald Trump's China tariffs will likely impact Amazon's core retail business, the company's online ad unit could also feel some pain. So far, tech companies with online ad businesses have reported solid first-quarter earnings, but warned of potentially tougher times later in the year. Meta reported stronger-than-expected first-quarter earnings this week, but said that ad sales in the Asia-Pacific region came in at $8.22 billion for the quarter, trailing analyst estimates of $8.42 billion. Meta finance chief Susan Li said during an earnings call that "Asia-based e-commerce exporters" have slowed their online ad spending likely due to the de minimis trade loophole ending this Friday. When Alphabet reported first-quarter earnings last Thursday, it revealed that that ad sales grew 8.5% year over year to $66.89 billion and YouTube ad revenue increased 10% to $8.93 billion. But Alphabet executives told analysts that it expects headwinds to its Asia-Pacific-focused advertising business. Snap on Tuesday said it had "experienced headwinds to start the current quarter," which resulted in the company saying it would not provide guidance. Last week, Microsoft's reported its latest quarterly earnings and said that search and news advertising sales, minus payments to its affiliates, grew 15% year over year to $449 million. Pinterest reports earnings on May 8.
South China Morning Post
17-03-2025
- Business
- South China Morning Post
No longer niche: how private credit is transforming the APAC lending landscape
Since the global financial crisis of 2007-08, private credit – nonbank lending from institutional investors direct to businesses or individuals – has gone from strength to strength. Advertisement In Europe and the United States, it now forms an established part of the corporate financing firmament as banks pull back from traditional lending. According to Macquarie Asset Management in November 2023, the global private credit market is now estimated at around US$1.2 trillion, with annual fundraising growing particularly during Covid-19, from US$120 billion in 2021 to US$225 billion in 2022. In the Asia-Pacific region, however, it remains a comparatively underpenetrated segment. With banks reducing lending due to regulations, APAC's private credit market is set to grow, with Hong Kong uniquely positioned to capitalise on the surge, attracting investors seeking high-yield, asset-backed loans. Photo: Edmond So According to data from Preqin Pro, Asia-Pacific-focused private credit fundraising inched higher to US$5.89 billion across 33 funds in 2024, up from the US$5.48 billion raised from 32 funds in the previous year. Advertisement While the growth is modest, wealth managers in the region are increasingly excited by what they see as the potential for private credit to plug a widening lending gap and provide an attractive investment vehicle.
