Blackstone Group Inc., the world’s largest private equity firm, has promoted at least half a dozen long-serving senior executives including India’s Amit Dixit to new leadership roles.
Dixit, senior managing director at Blackstone India and the co-head of Asia acquisitions, will now take charge as the head of the firm’s Asia PE business.
A Blackstone India spokesperson confirmed the development, saying Dixit will be based in Mumbai and will continue to lead the firm’s local PE business.
The world’s largest buyout firm also promoted Peter Wallace — who has been with the firm since 1997 and the son of TV news anchor Chris Wallace — as global head of core private equity.
Besides, it elevated Martin Brand as head of North America private equity, The Wall Street Journal reported.
Brand, Wallace and Dixit will continue to report to New York-based Joseph Baratta, the global head of private equity at Blackstone.
Dixit joined Blackstone India in 2007 from US private equity giant Warburg Pincus, where he worked for nearly six years.
Since his association with Blackstone, Dixit is credited with a number of marquee deals. He is a director on the board of several Blackstone portfolio firms such as IT services company Mphasis Ltd, IPO-bound Sona Comstar Ltd, packaging firm EPL Ltd (formerly Essel Propack), IBS Software, Aakash Education, Jagran Prakashan, and Mid-Day Infomedia.
Dixit studied civil engineering at the Indian Institute of Technology, Bombay during 1991-95. He pursued his masters in engineering from Stanford University in 1995-96 and received his MBA from Harvard Business School in 2001.
Under Dixit’s helm, Blackstone’s India portfolio has been the group’s best-performing market in terms of returns over the past decade through control deals like the Mphasis acquisition from Hewlett Packard Enterprise Co.