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US private equity firm KKR on Monday said its India chief executive officer Sanjay Nayar will move to a new role, that of chairman of KKR India, beginning 31 December.

Nayar, who has been with KKR since 2009, will advise and assist India operations by leveraging his connections and experience across the country, the PE firm announced in a statement.

“We are grateful to Sanjay for his role in establishing our business in India, partnering with and empowering local entrepreneurs to build their businesses into local and global champions, making KKR a leading investor in India, and helping to grow our Asia Pacific business. We look forward to Sanjay’s continued support in his new role," said Joseph Bae, co-president and co-chief operating officer of KKR.

KKR also announced that Gaurav Trehan, who was earlier with rival TPG Capital, will join the firm as head of private equity operations in India. Before TPG, Trehan worked in the mergers, acquisitions, and restructurings department of Morgan Stanley, with a focus on the technology sector.

“Gaurav has established himself as one of India’s top private equity investors, and we are excited to add an executive of this caliber to our leadership team. With his strong investment acumen...we are confident he will enable us to augment our ability to support the local economy and take homegrown businesses to the next phase of growth and development," Ming Lu, head of KKR Asia Pacific, said.

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