Tuesday, 1 December 2015
Last updated 23 sec ago
Mar 11 2011 | 12:40pm ET
Rajat Gupta, the former head of consulting giant McKinsey & Co. and alleged Raj Rajaratnam tipster, is taking a leave of absence from the private equity firm he co-founded with the former Galleon Group chief.
New York-based New Silk Route Partners said Gupta made the move to "avoid any distraction and ensure New Silk Route's continued focus on the execution of its investment strategy." The $1.4 billion firm hastened to add that "the matters involving Mr. Gupta have nothing to do with New Silk Route or any of our portfolio companies."
Gupta has been charged by the Securities and Exchange Commission with passing confidential information to Rajaratnam, a long-time friend, about Goldman Sachs and Procter & Gamble, two companies on whose boards he sat. He is expected to testify for the defense at Rajaratnam's insider-trading trial; his lawyer has repeatedly said that Gupta has done nothing wrong and will be vindicated.
Gupta and Rajaratnam co-founded New Silk Route, then called Taj Capital, in 2006. While Rajaratnam cut ties with the firm after it decided not to launch a hedge fund, Gupta has remained its chairman.
New Silk focuses of South Asian investments, and has three offices in India.
Oct 21 2015 | 10:41am ET
One of the most unique charity benefits in the hedge fund industry, A Leg To Stand On's (ALTSO's) Hedge Fund Rocktoberfest - NYC, raised nearly $500,000 last Thursday thanks to the generous support of major sponsors and nearly 1,400 attendees from the Tri-State finance, business and hedge fund communities. Read more…