Preqin, the global leader empowering the alternatives community with essential data and insight, has announced the opening of its 16th office, based in Bangalore, India.
The new office will host almost 400 team members, and is a testament to the firm’s commitment to India and its strong local talent, a statement said.
Over the past years, private capital investors globally have demonstrated their confidence in India as one of the most promising growth economies. The country’s alternative investment funds (AIF) industry is experiencing rapid growth and attracting investor interest. With more than 1,000 AIFs, the industry has grown quickly from INR 702bn (USD 10bn) in total commitment raised at the end of 2016, to INR 6,945bn (USD 88bn) by June 2022 – having increased by almost ten times. This growth was propelled by a combination of factors, such as the nation’s demographics, government initiatives to make India a desirable investment destination, and accelerated digital adoption, the statement said.
Preqin has been working with partners locally for several years already. Most notably, in September 2021, the firm entered a partnership with the Indian Private Equity and Venture Capital Association (IVCA), under eligibility from the Securities and Exchange Board of India (SEBI). Being one of only a handful of officially approved benchmarking agencies, Preqin and IVCA have jointly produced alternative investment fund benchmarks to help address the need for robust performance measurement and reporting transparency in India, according to the statement.
Vatsan Sudersan, SVP, Global Head of Data Management, based in Bangalore, adds, “India’s alternative assets industry is growing quickly and there is a great talent pool – opening an office in Bangalore was the logical next step. We have a passionate and forward-thinking local team, and we are delighted to be able to match their ambition with our modern new office. We are looking to hire and expand our team in 2023 and are excited to see our team in India grow.”
Christoph Knaack, CEO at Preqin, says, “We are thrilled to be expanding Preqin’s global presence. We are a data-first company, and the work of our India team will continue to drive our ambition to be the leading alternative assets data provider – trusted by every financial professional who invests in, allocates to, or advises on alternatives.”
Preqin currently has over 1,400 team members across 16 offices globally and is going through a continued growth phase. Preqin serves its customers through the entire private market investment lifecycle – from fundraising and investor relations, to deal origination, due diligence, and portfolio monitoring.
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