Asia Private Equity Review March 2010p

Ever since Mr Ajay Relan, former managing director and head of the India operation of Citi Venture Capital International made the landmark move to leave the institution in 2008 and form his own private equity firm, CX Partners, it ushered in a new movement that has seen a growing pool of general partners seeking independent status. In mid February, Axis Private Equity, one of the youngest private equity firms in India, confirmed its plans to spin out from its parent company, Axis Bank. It is also the first Indian private equity firm that focuses solely on infrastructure financing to wean off of its founding parent.