Dalip Pathak to assume leadership of Indian investment activities

Mumbai, March 4, 2010 -- Warburg Pincus announced today that Dalip Pathak, managing director, who established the firm’s India business in 1994 and is currently leader of the firm’s European effort, will also assume direct oversight of Warburg Pincus’ investment activities in India.

Rajesh Khanna, managing director, will depart from the firm to pursue the formation of an independent investment business in India.

Pathak has been instrumental in building and consolidating Warburg Pincus’ presence in India. In partnership with the Indian team, led by managing directors Leo Puri, Niten Malhan and Vishal Mahadevia, he will continue to strengthen the firm’s substantial private equity franchise in the country.

“Rajesh has been part of the India office since its founding,” said Pathak. “We are very grateful for his significant contribution and leadership and wish him the very best in his future endeavours. India has been core to our global thesis since our first investment here 15 years ago. Working with our seasoned team, led by three partners in Mumbai, we expect our focus on the region to increase as India continues to show strong, fundamental growth.”

Warburg Pincus began investing in India in 1994 and established the Mumbai office in 2001. Over the past decade, affiliates of private equity funds raised by Warburg Pincus have invested more than $2 billion in Indian companies such as Bharti Airtel, Gangavaram Port, Max India, Punj Lloyd, Kotak Mahindra Bank and WNS Global Services.

About Warburg Pincus

Warburg Pincus is a leading global private equity firm. The firm has more than $30 billion in assets under management. Its active portfolio of more than 110 companies is diversified by stage, sector and geography. Warburg Pincus is a growth investor and an experienced partner to management teams seeking to build durable companies with sustainable value. Founded in 1966, Warburg Pincus has raised 12 private equity funds which have invested more than $35 billion in approximately 600 companies in more than 30 countries. The firm has offices in Beijing, Frankfurt, Hong Kong, London, Mumbai, New York, San Francisco, São Paulo, Shanghai and Tokyo. For more information, please visit www.warburgpincus.com.

About Warburg Pincus’ India Leadership Team

Dalip Pathak, Managing Director, Warburg Pincus is responsible for the firm's investment activities in Europe and India. Prior to joining Warburg Pincus in 1994, he was Chief of Mission of the International Finance Corporation (World Bank Group) in Thailand. Mr. Pathak received his B.A. and M.A. in economics from Delhi University and an M.B.A. from The Wharton School at the University of Pennsylvania. Mr. Pathak is also a member of the board of overseers of the University of Pennsylvania's School of Arts and Sciences and a member of the South Asia Initiative at Harvard University. Mr. Pathak is also a member of the Advisory Council of the Emerging Markets Private Equity Association in Washington, D.C. and a member of the Advisory Board of the UK India Business Counsel.

Niten Malhan, Managing Director, Warburg Pincus has been with the firm since 2001. Previously, he was a director of business development at Stratum8 Corporation, a Silicon Valley start-up. He also worked as an engagement manager with McKinsey & Company in New Delhi, Jakarta and Boston. Mr. Malhan holds a B.S. in Computer Science and Engineering from IIT-Delhi, and an M.B.A. from the Indian Institute of Management, Ahmedabad.

Leo Puri, Managing Director, Warburg Pincus joined Warburg Pincus in 2007. He is focused on the firm's investment activities in India and financial services investments in select global markets. Prior to joining Warburg Pincus, Mr. Puri was a director at McKinsey & Company in India, where he was a co-leader of the financial services practice in Asia. Mr. Puri holds an M.A. in politics, philosophy and economics from Oxford University and obtained an M.A. in law with first class honors from Cambridge University.

Vishal Mahadevia, Managing Director, Warburg Pincus joined the firm in 2006. Previously, he was a principal at Greenbriar Equity Group, a fund focused on private equity investments in the transportation sector. Prior to that, Mr. Mahadevia worked at Three Cities Research, Inc., a New York based private equity fund, and as a consultant with McKinsey & Co. He received a B.S. in economics with a concentration in finance and a B.S. in electrical engineering from the University of Pennsylvania.