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MUMBAI: For private equity investors in India, 2016 may have been one of the worst years in terms of investments but hiring in the industry hit a new high even as several senior executives quit to start their own funds.
More than half-a-dozen senior fund managers have moved out to start their own funds, ranging from hybrid to debt to mezzanine financing while a similar number of people quit to launch their own Internet startups, according to data from executive search firms.

The Indian PE industry hired around 130 people across levels in 2016, 15% more than the previous year, with the churn rate much higher at the senior levels. “2016 has been a momentous year for PE hiring and we noted a healthy demand for talent across levels,” said Sonali Manek, head capital markets and alternatives vertical at Vito India, a leading domestic executive search firm that specializes in senior-level placements in financial services.