Warburg Pincus has appointed Vishal Mahadevia, the current head of India operations, to lead Asia's private equity division, marking a significant change within the organization. This move comes amid a significant restructuring at the US investment firm, including the departure of Frank Wei, who served as the head of China operations for an extended period. With 17 years of experience at Warburg Pincus, Mahadevia will take on this additional role while retaining his current position as Co-head of financial services. The firm's official statement also mentioned new leadership assignments for various Asian markets, such as China and India, forming part of this restructuring process.

Warburg Pincus aims to streamline its management structure to encourage improved collaboration, coherence, and risk management, a move aligned with the firm's growth in Asia and its increased coverage across sectors. Chip Kaye, the CEO, underscored Vishal Mahadevia's leadership skills and investment expertise, highlighting that, together with the firm's adept upcoming investor group, they represent an ideal team to drive forward Warburg Pincus' strategy in Asia.

In India, Narendra Ostawal, who joined the company in 2007, will lead the private equity division. Viraj Sawhney and Anish Saraf, joining in 2005 and 2006 respectively, will take on expanded roles as the firm bolsters its focus on cross-border business services and industrial operations. As for China, Frank Wei, who has been with Warburg Pincus for more than two decades, will step down from his current role. However, he will remain a managing director until 2024 to ensure a seamless transition. Partners Min Fang and Ben Zhou, part of the company since 2007 and 2005 respectively, will jointly lead the private equity division in China. They will oversee the firm's investments in the world's second-largest economy, where Warburg Pincus has had a presence for almost 30 years.