Mumbai: Myntra’s chief strategy officer Ananya Tripathi is set to join global private equity (PE) firm KKR & Co. as part of its unit KKR Capstone, which houses the operating team of the PE firm, a top official at the firm said on Monday. Tripathi’s appointment comes at a time when the PE firm is increasingly looking at buyout opportunities in India. In August, KKR announced two buyout transactions—Ramky Enviro Engineers Ltd(REEL) for $530 million and JBF Industries.
KKR Capstone appoints Myntra’s Ananya Tripathi as director
Tripathi will serve as director for KKR Capstone India, assisting portfolio companies of KKR with strategy and operations. She is serving her notice period and will join KKR in January.
Tripathi served as head of the multi-branded business and chief strategy officer of Myntra, an online fashion retailer, driving the firm’s planning, investments and acquisitions.
Myntra was acquired by Flipkart in 2014.
During Tripathi’s tenure, Flipkart acquired another online fashion retailer, Jabong, from Global Fashion Group in 2016 through Myntra.
Before joining Myntra, Tripathi was associate partner at McKinsey, where she worked with clients across financial services, insurance and industrial goods sectors on strategy, operations and implementation across geographies such as the UK, Singapore, Canada and India.
“Ananya’s track record as a hands-on operator, her deep digital experience and proven ability of partnering with executives to drive performance will add substantial value to KKR’s Indian portfolio companies,” said William Cornog, global head of KKR Capstone.
“Ananya joins KKR Capstone at an opportune time for KKR’s India team, when we are looking forward to making more control investments and where her role at KKR Capstone will be very important in adding value throughout the investment lifecycle. Her experience in strategy and operations will be immensely helpful as we look to continue driving value across our portfolio companies,” said Sanjay Nayar, member and chief executive of KKR India.
KKR Capstone has a 90-member team globally, of which 20 members are based in Asia.
The team, however, is geography agnostic. Even as private equity firms in India are increasingly focusing on control transactions, the emphasis on hiring experienced industry professionals as operating partners has been increasing.
The operating partners work closely with the portfolio companies, helping them scale up and drive operational efficiencies among other things.
For instance, home-grown PE firm True North has a separate team of operating partners that advise the portfolio companies in strategizing and help in getting experienced hires to run the business in case a change of management is required. True North is also focused on buyouts.
ChrysCapital, another leading domestic PE firm, has set up a team called “Enhancin” that works closely with portfolio companies.
KKR, which has been investing in India since 2006 manages over $191 billion worth of assets globally. Some of the firm’s India investments include Aricent, Alliance Tire Group, Avendus Capital, Bharti Infratel, Cafe Coffee Day, Emerald Media, Magma Fincorp, Max Financial Services, and SBI Life.