Morgan Stanley is building a private-equity presence in India, the latest example of foreign investors gearing up for the chance to plow large sums into the country's growth story. The Wall Street firm said it was hiring 43-year-old Aluri Srinivasa Rao to scour India for deals. Joining Morgan Stanley from a local private-equity fund, Mr. Rao will have a $1.5 billion Asia-focused fund behind him. Morgan Stanley, which hasn't done private-equity deals in India before, will aim to deploy at least 20% of that fund into India.
The Wall Street Journal
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