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Home » Finance News » Advent Hires Jalan From ICICI Venture to Expand India Business

Advent Hires Jalan From ICICI Venture to Expand India Business

Advent International Corp., a Boston-based private equity firm, hired Shweta Jalan to expand its private equity business in India.

Jalan joined Advent India PE Advisors Pvt. as a director from ICICI Venture, the buyout unit of India's second-largest lender ICICI Bank Ltd., Advent said in an e-mailed statement today.

Jalan will join Advent in Mumbai, where the company is setting up its office. The U.S. firm began investing in Asia's third-largest economy two years ago when it acquired a stake in Computer Age Management Services Ltd., a transaction processing company.

Advent appointed P.J. Nayak, former chairman of Axis Bank Ltd., as a partner in July to advise on Indian investments.

Advent International has raised $24 billion in private equity capital and has completed over 250 transactions valued at about $45 billion in 35 countries, the release said.

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