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Business News/ Companies / News/  Oaktree hires former JP Morgan executive to focus on the India market
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Oaktree hires former JP Morgan executive to focus on the India market

Oaktree Capital Management has hired former JP Morgan executive Gaurav Parasrampuria as vice president to look into the Indian market

Oaktree Capital Management is headed by Jay Wintrob, a former president and CEO of AIG Life and Retirement.Premium
Oaktree Capital Management is headed by Jay Wintrob, a former president and CEO of AIG Life and Retirement.

Mumbai: Oaktree Capital Management LP, one of the largest special situations and distressed assets funds in the world, has hired former JPMorgan executive Gaurav Parasrampuria as vice-president to look into the Indian market, at least two people familiar with the development said.

Parasrampuria, currently based in Singapore, was earlier vice president at JP Morgan, a New York-based multinational banking and financial services holding company. A spokesperson for Oaktree capital confirmed Parasrampuria’s appointment over email. 

Founded in 1995, Oaktree Capital has an investor base of pension plans, insurance companies, endowments, foundations and sovereign wealth funds, and has more than $100 billion in assets under management. The Los Angeles-based company has over 900 employees across the world.

Earlier in November 2016, Mint had reported that Oaktree was in advanced talks with two large real estate companies to invest $100 million in structured debt deals. The company was previously in talks with Edelweiss Financial Services Ltd to co-invest in a Hyderabad-based power producer, but the deal could not be closed.

In 2012, Oaktree launched its emerging markets opportunity fund, with a corpus of $793 million and in June 2013, the company invested Rs120 crore in pharmaceutical packaging firm Cogent Glass Ltd to acquire a 60% stake, Mint reported.

The investment firm comprises a mix of global investment strategies in categories like distressed debt, corporate debt, control investing, convertible securities, real estate and listed equities.

Oaktree is headed by Jay Wintrob, a former president and CEO of AIG Life and Retirement.

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Published: 07 Aug 2017, 01:55 AM IST
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