Bajaj Group Poaches Top Talent Amidst Asset War

Bajaj Group's alternative investment management division has secured a key executive from a competitor, signaling a heightened battle for talent in India's rapidly expanding asset management sector. The recruitment of Jitendra Gohil, formerly of Kotak Alternate Asset Managers, is set to bolster Bajaj's efforts in establishing a new alternative investment fund.

This strategic hire comes as India's alternative asset industry, managing a substantial $169 billion in committed capital, experiences a surge in activity. The sector, which primarily pools funds from affluent individuals, is grappling with a limited supply of skilled professionals, making such executive hires crucial for growth and innovation.

Regulatory bodies have also been scrutinizing these funds, with tightened due-diligence rules implemented last October to prevent investment restrictions from being circumvented. The appointment of Gohil, who will report to Lakshmi Iyer, is a significant step for Bajaj as it aims to expand its investment team significantly.