Global private equity major Blackstone said Akhil Gupta, who founded and led its operations in India for eight years, will step into a non-executive role.
"Amit Dixit and Mathew Cyriac will jointly lead Blackstone India's private equity business," it said in a statement.
Gupta, who set up the fund's India operations in 2005, "will assume the position of non-executive Chairman of Blackstone India," according to the statement.
He will "continue to help and guide Blackstone's activities here, working closely with the heads of its businesses," Blackstone said. The company has $1.7 billion in investments in the country.
Both Cyriac and Dixit are senior managing directors of the company, according to its website.
The private equity fund has a team of 19 investment and portfolio operations professionals in private equity and nine in real estate, it said.
Image: Akhil Gupta