Mumbai: In April, when the Blackstone Group pipped rivals to acquire a majority stake in packaging company Essel Propack for $460 million, it was on the back of the rich experience of one of its operating partners, former Unilever chief operating officer Harish Manwani.
The fact that the global private equity firm owns four similar businesses globally also went in its favour in a deal that was fought neck and neck with other PE funds.
“We won Essel Propack, given the consumer expertise brought to the fore by Harish Manwani. Similarly, in Agile Electric, because of Jeff Overly (industrials) and Mphasis, due to Dave Johnson (IT services),” said Amit Dixit, the India head for Blackstone. Blackstone leverages its global network of 41 operating professionals and 45 advisers across sectors to win deals, he added.
At a time when most global private equity and venture capital funds are lining up to invest in India and upping their game, money seems to have become just a commodity. Companies that are looking to raise capital now choose funds based on the human capital they bring to the table.