
Creating Alpha.
By finding high return investment opportunities in public equities in India, while remaining guardians of the firm's capital and managing through risks. The firm is a public equity long-only fund, picking stocks based on bottom-up fundamental research. The firm is structured as an open-ended, Indian-domiciled Category III AIF, and the firm also offers an offshore fund domiciled in GIFT City.
Manav Saraf
Co-CIO
Manav Saraf has 24 years of investment experience focused on India. He was the first hire for Lone Star Funds' Asia ex-Japan build-out, where he led the Indian business as Managing Director — setting up an NBFC and working on corporate turnarounds. He also helped set up Hudson Advisors in Asia, underwriting all regional transactions. Prior to Lone Star, he was at Citadel Investment Group and Mount Kellett Capital. Started career at Indocean Chase Capital in 1999. MBA from London Business School; CFA charterholder.
Kabir Kewalramani
Co-CIO
Kabir Kewalramani has 27 years of investment experience focused on India. Managing Director at Berggruen Holdings since 2005 — the first hire in India — with responsibility for investments across multiple sectors. Prior to Berggruen, was CEO of RDC Concrete India Ltd, leading a successful turnaround before orchestrating its sale to True North (India PE). Started career at Indocean Chase Capital in 1996. Masters from Sydenham College, Mumbai. Both CIOs have invested a substantial portion of their net worth in the Fund.
Pratik Chheda
Investment Analyst
8 years of equity research experience. Previously equity research associate at IIFL Securities (NBFCs), Ambit Capital, and CRISIL. CA; BCom from HR College; CFA Level II cleared.
Heet Vora
Investment Analyst
5 years of equity research experience. Previously at JM Financial (Metals & Mining, Textiles, Aviation, Exchanges) and Prabhudas Lilladher (FMCG, Retail). CA; BCom from KC College; CFA Level I cleared.
Vicky Waghwani
Investment Analyst
5 years of total experience, 3 years in equity research. Previously at JM Financial (Building Materials, Consumer Durables, Ports) and Yes Securities (Building Materials, Agrochemicals). CA; BCom from Hislop College.
Investments in securities markets are subject to market risks. Read all the related documents carefully before investing. Past performance is not indicative of future returns.
Shweta Goswami
SVP, Sales and Business Development
15+ years in wealth and asset management. Previously at ICICI Bank, HDFC Bank, Axis Bank (wealth management RM), IIFL Asset Management, and White Oak Capital (fund raising). MBA from IMS Indore.
Shrenik Shah
SVP, Operations and Finance
17 years of fund accounting and operations experience. Previously at New Vernon Capital for 12 years (operations for their USD 600M public equity fund) and GlobeOp (third-party fund accounting). Masters in Management from Rizvi Institute; BCom from Mithibai College.
Dhavan Shah
Assistant Manager, Fund Accounting and Operations
6 years of operations experience. Previously at Morgan Stanley (derivatives operations associate) and Nomura and State Street Syntel Services (middle office operations analyst). MBA from ITM University; BA from LS Raheja College.
Aman Gupta
Investment Analyst
Karan Galaiya
Investment Associate
Aryan Shah
Investment Associate
Pronob Chakraborty
VP, Sales
Rohit Pant
VP, Sales
Khushbu Zala
Manager, Fund Accounting and Operations
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