Wall Street banker targets Indian infra with new venture

Vikram Gandhi, who has worked for Credit Suisse and Morgan Stanley, has established a consultancy to facilitate investment in Indian infrastructure. His VSG Capital will also have a presence in Hong Kong, London and New York.

A long time Credit Suisse investment banker has set up a consulting firm that will provide advice on investing in infrastructure in India.

Vikram Gandhi said his VSG Capital will be headquartered in New Delhi, India, and also operate in Hong Kong, London and New York. Gandhi, who will act as chief executive officer, said he wanted to use his established “global network” to bring institutional investor capital into India, including the “social sector” and infrastructure.

He said his start-up would also provide pro-bono advisory work for the social sector in India. The launch of his newly minted company also led to his appointment as a federal government adviser on public infrastructure.

At Credit Suisse, Gandhi worked in the investment banking division as a vice chairman in Hong Kong and New York. He has also worked for Wall Street firm Morgan Stanley and consultancy McKinsey.

Traditionally, institutional and sovereign wealth fund capital has invested in India via private equity funds, but both are of late increasing their level of direct investments as the country continues to attract global attention.

A month ago, SBI Macquarie Infrastructure Fund chief executive Varun Bajpai started a private equity firm, Violet Arch Capital, which is also focused on investing in India.