Fractal Backer Apax Partners’ India Head Quits

Fractal Backer Apax Partners’ India Head Quits

SUMMARY

Anurag Sud, MD and Indian head at Apax Partners is stepping down from his role after a three-year stint to pursue other opportunities

On the back of this, Apax has also brought in Harjot Dhaliwal as new partner to spearhead the India office

It is pertinent to note that, Dhaliwal joined the Apax Mumbai team back in 2018

Apax Partners, which counts AI-powered SaaS platform Fractal Analytics among its portfolio, has seen its managing director and India head Anurag Sud stepping down from his role after a three-year stint.

Confirming the development, a PE firm spokesperson said, “Sud is pursuing other opportunities and will leave with the firm’s best wishes.”

ET reported the development first.

On the back of this, Apax has also brought in Harjot Dhaliwal as new partner to spearhead the India office.

Dhaliwal joined the Apax Mumbai team in 2018 and after four years, she relocated to the company’s New York office to focus on technology and software deals.

“Bringing in a partner is a proactive move to drive deal activity across high-potential sectors, particularly technology. Dhaliwal brings strong deal-making credentials to the role and an understanding of the India market and team – having spent the first few years of her career in our India office,” the spokesperson added.

Sud has an experience of over 10 years across multiple PE firms, including Eight Roads and Baring Private Equity Partners.

As per his LinkedIn profile, he was also a board member on multiple ventures such as Fractal and Infogain.

Meanwhile, Dhaliwal, an alumna of IIT Delhi and Harvard Business School, has spent more than six years with Apax Partners.

“I’m thrilled to be back and working with an excellent team and excellent partners across India. I’m proud of our track record in India and can’t wait to build on it further,” Dhaliwal said on her appointment.

Apax Partners key focus sectors include technology, internet and consumer services. Some of its other portfolio companies include Azentio Software, Infogain, Global Logic, Zensar, Fractal Analytics, Healthium and Apollo Hospitals.

Apax has also undergone some major leadership reshuffles last year. For instance, Leo Puri was appointed as an advisor to Apax Partners and chairman of its Indian arm. In July, Shashank Singh stepped down as partner and head of Apax’s India office.

Also, the firm said that between 2004 and 2024, it has invested close to $3.5 Bn in India and plans to ramp up its local investments across domestic pharmaceuticals, consumer, and consumer derivative markets.

Editor’s Note: The article has been updated to add Harjot Dhaliwal’s comments.