Harjot Dhaliwal takes over as new India head of PE firm Apax Partners

Dhaliwal is an alumnus of Harvard Business School and Indian Institute of Technology, Delhi

Harjot Dhaliwal has taken over as the new India head of British private equity major Apax Partners, according to an official release by the firm. Dhaliwal takes over from Anurag Sud who has moved on after a tenure of three years.

"Dhaliwal, an alumnus of Harvard Business School and Indian Institute of Technology Delhi has spent the last two years as a partner in the Tech team in New York working alongside Apax partners, Jason Wright and Roy Mackenzie and has now returned to our Mumbai office where she began her Apax career six years ago. Apax Partner, Rohan Haldea, will continue to have oversight of our India operation, " the firm said.

Speaking on the top deck change, Andrew Sillitoe, CO-CEO, Apax said “I am delighted that Harjot has taken up the leadership role of our India team. We want to go further and faster in building on our successful track record in India. The tech sector is where we see real opportunity, alongside consumer and business services. As a proven dealmaker with a strong track record in tech, and with both India and international experience, Harjot is ideally placed to drive our efforts forward.”

Dhaliwal who has earlier worked at Warburg Pincus, TA Associates and Rothschild , said, “It’s great to be home! Mumbai is where I started my Apax career six years ago. 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.”

The official release added, "Anurag Sud has made an important contribution during his three years with the firm. He is pursuing other opportunities and will leave with the firm’s best wishes."

Prior to Apax, Sud spent more than 7 years at EQT ( formerly Baring Private Equity Asia ) where he acted on key investments like Citius Tech Healthcare, Coforge, Hexaware Technologies, Sagility and AGS Health, as per his Linkedin profile.

Apax is one of the leading investors in tech services and software businesses in India, having invested $2.3 billion across eight tech/software deals, starting with iGate-Patni in 2011 and, most recently, GreytHR in 2024. In over nearly two decades, Apax Funds have invested c.$3.6 billion across 13 transactions in India, realising $5.2 billion from eight completed exits and one partial realisation.