Talent War Intensifies: Bajaj Group Hires Kotak Veteran to Drive ₹15 Trillion AIF Ambition
The alternative investment management arm of the Bajaj Group, one of India’s oldest conglomerates, has signaled a significant push into the high-growth alternative asset space by hiring a Chief Investment Officer (CIO) from Kotak Alternate Asset Managers Ltd. This strategic move underscores the fierce talent battle currently playing out in the $169 billion asset management industry.
The Strategic New Appointment
The key hire, industry veteran Jitendra Gohil, is set to join the Bajaj Group next week.
Role and Mandate: Gohil’s primary responsibility will be to lead the initiative to create a new Alternative Investment Fund (AIF). This venture signifies the Bajaj Group’s ambition to significantly expand its footprint in the sophisticated asset management segment.
Context: The hiring of an experienced professional from a leading competitor like Kotak highlights the scarcity of top-tier talent capable of managing complex alternative strategies for wealthy individuals and family offices.
India’s Alternative Asset Boom
The intensity of the talent war is directly linked to the explosive growth of India’s alternative asset industry. This segment, which pools capital from High Net Worth Individuals (HNIs), is a major focus for conglomerates seeking diversification and high-margin business:
Committed Capital: The funds operating in this space have a massive committed capital base of ₹15 trillion ($169 billion), according to SEBI data.
Market Dynamics: The industry has become a “hotbed of activity” as affluent investors increasingly look for differentiated, non-traditional assets (like private equity and structured credit) that offer higher potential returns and diversification beyond conventional equities and debt.
The recruitment of a seasoned CIO like Gohil is a crucial step for the Bajaj Group to build credibility and compete effectively in this fast-growing, highly lucrative segment.
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