Credit Suisse Announces Expansion of Credit Suisse Private Equity Asia

Credit Suisse Strengthens Private Equity Capabilities in Asia With Addition of a Team of Six Professionals, Headed by Harjit Bhatia.
Credit Suisse today announced the expansion of Credit Suisse Private Equity Asia with the addition of a team of six investment professionals, headed by Harjit Bhatia. Joining Mr. Bhatia are Hemang Raja, Rakesh Mital, Soma Ghosal Dhar, Isiah Zhang and Imelda Tham. The team joins Credit Suisse from Ritchie Capital Management. In addition, Heath Zarin, who started Credit Suisse’s Asian private equity investment activities in the region, will join the team.

Paul Calello, Chief Executive Officer of Credit Suisse, Asia Pacific said, “Credit Suisse has a strong presence in the private equity space, managing over CHF 30 billion in private equity assets worldwide. This new team will enable us to again bring our global expertise to the Asia Pacific market.”

David Blumer, Chief Executive Officer of Asset Management said, “This is a very exciting development for us as we expand on our private equity footprint in this important region. It augments Credit Suisse’s existing Asian private equity business, which also includes a joint venture with China Renaissance Capital Investment (CRCI) and its two funds, and reflects our commitment to continuing to enhance our leadership position in private equity worldwide.”

Harjit Bhatia, who joins as Managing Partner and Head of Credit Suisse Private Equity Asia, said, “Credit Suisse has a very strong private equity franchise in both North America and in Europe, and I look forward to working with the team to leverage those capabilities, and the Bank’s strong global presence, for the benefit of both clients and portfolio companies across Asia Pacific. This is an exciting opportunity and I am pleased to be joining Credit Suisse.”

Mr. Bhatia brings a wealth of knowledge and expertise to this role, with 35 years of industry experience in Asia. He was most recently Chairman and CEO, Asia Pacific of Ritchie Capital Management (HK) Limited, and prior to that spent 11 years at GE, most recently as President and CEO of GE Corporate Financial Services in Asia Pacific. At GE, he managed the firm’s investment activities in the areas of private equity, distressed and financial restructuring and broader corporate financial services products in the region in multiple roles, building a successful track record across a variety of industries and countries. Mr. Bhatia also started and managed GE’s Private Equity business in the Asia Pacific region from 1997-2002. Before GE, he set up and headed Deutsche Bank’s Merchant Banking operations in New Delhi, India. He also spent nearly 18 years working for the State Bank of India in both India and Japan in various management and leadership positions.

Hemang Raja, who joins as a Managing Director, was previously the Head of India Operations for Ritchie Capital, and prior to that spent seven years as the CEO of IL&FS Investsmart, a boutique brokerage and merchant bank in India. Before that, he spent nine years at Infrastructure Leasing & Financial Services (IF&FS), three of which were as CEO of the Financial Services Strategic Business Unit responsible for all India Financial Services. He started his career over 25 years ago with Blue Star group in India.

Rakesh Mital, who also joins as a Managing Director, worked closely with Mr. Bhatia at Ritchie Capital in both investment management and administrative functions. Prior to Ritchie Capital, he spent 10 years at GE in a number of capacities, primarily in private equity investment and risk management areas, including working closely with a series of GE Asia’s private equity portfolio companies. Before joining GE, he worked at Deutsche Bank in Merchant Banking and Punjab National Bank in corporate finance and lending areas for over 10 years.

Also joining the team are Soma Ghosal Dhar, previously a Director at Ritchie Capital in India and prior to that in GE Capital’s private equity group; Isiah Zhang, who worked at McKinsey & Co in China prior to joining Ritchie Capital; and Imelda Tham, who worked at the Carlyle Group in Washington DC in Real Estate acquisitions before Ritchie Capital.

Harjit Bhatia, Rakesh Mital, Isiah Zhang and Imelda Tham will be based in Hong Kong, and Hemang Raja and Soma Ghosal will be based in Mumbai.