PE firm Hillhouse Investment to onboard Sudip Mahapatra of S&R Associates 

Sudip Mahapatra

Singapore-based and Asia-focused private equity firm Hillhouse Investment has strengthened its India team by hiring Sudip Mahapatra, Partner ( M&A and Private Equity) at law firm S&R Associates, multiple industry sources in the know told Moneycontrol.

"Sudip has stepped down from S&R Associates after a stint of more than 13 years and will join the India operations of Hillhouse Investment," said one of the people above.

Two other persons confirmed the same.

Mahapatra's proposed role at the investment firm could not be independently verified by Moneycontrol.

All the three persons above spoke on the condition of anonymity.

When contacted via email, Sandip Bhagat, Partner, S&R Associates confirmed Mahapatra's exit and said, "Sudip has been a valued member of the Firm. We are delighted for him and wish him all the very best.”

An email query to Hillhouse Investment remained unanswered at the time of publishing this article. Reminders have been sent and this article will be updated as soon as we hear from the firm. Mahapatra was unavailable for comment.

According to his Linkedin profile, Mahapatra, an alumnus of Columbia Law School and NALSAR is moving on from S&R Associates following a second stint. He has previously worked at the New York office of Kirkland and Ellis for 2 years and began his career at S&R Associates in 2007.

During his tenure at S&R Associates, as per disclosures on legal websites, Mahapatra has acted on transactions including the $2bn sale of ATC's Indian tower business to Brookfield sponsored Data Infrastructure Trust, Embassy Group's stake sale in Embassy Industrial Parks to Blackstone and Arcelor Mittal's acquisition of Essar Steel and Uttam Galva Steel.

Hillhouse Investment: The India Footprint

The India portfolio of Hillhouse Investment includes IPO-bound Bengaluru-based premium managed workspace provider Table Space, IPO-bound student accommodation facilities provider Elevate Campuses , student housing platform Good Host Spaces and warehousing holdings acquired from IndoSpace among other assets.

Hillhouse Investment also has a joint venture with Mitsubishi Group in India to develop industrial and logistics facilities across industrial hubs.

There is a third IPO-bound Indian asset under the Hillhouse Investment umbrella - the domestic arm of Versuni ( formerly Philips Domestic Appliances).

Please Read :https://www.moneycontrol.com/news/business/ipo/hillhouse-backed-versuni-formerly-philips-domestic-appliances-picks-kotak-citi-for-300-mn-350-mn-ipo-of-indian-arm-13177949.html

The firm had also entered the final lap of the sale process of ChrysCapital backed healthcare BPO firm GeBBS Healthcare, which was eventually acquired by EQT for more than $800 mn.

Siddhartha Gupta founded Alta Capital Management is the operating partner of Singapore based Rava Partners in India. Rava Partners is the real estate division of Singapore based Hillhouse Investments. Ex-Goldman Sachs executive Mukesh Tiwari is the CEO of Elevate Cap, an associate of Alta Capital Management.