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Asia's leading alternative investment manager.
PAG India Credit Opportunities Fund is a SEBI-registered Category II Alternative Investment Fund registered on 4 December 2025, managed by PAG Investment Manager Private Limited (CIN: U66190DL2023PTC421723), the Indian investment management entity of PAG, one of Asia's largest alternative investment firms. PAG was founded in 2002 as Pacific Alliance Group and is headquartered in Hong Kong. The firm manages multiple asset classes including private equity, private debt, real estate, and hedge funds across Asia-Pacific, London, and New York. In 2023, Private Equity International ranked PAG as the seventh largest private equity firm in Asia by total fundraising over five years. PAG's three main strategies are Private Equity, Real Assets, and Credit & Markets; the India Credit Opportunities Fund falls under the Credit & Markets strategy. PAG Investment Manager Private Limited was incorporated in New Delhi on 20 October 2023 and is based at 210, 2nd Floor, Worldmark 2, Aerocity, NH 8, IGI Airport, New Delhi 110037. In 2019, Brookfield Asset Management acquired a significant stake in PAG, but PAG continues to operate as an independent investment manager. PAG has offices in India including an Aerocity Delhi presence and a Hyderabad office.
PAG's India investment philosophy is anchored in three principles: disciplined capital deployment, active operational value creation, and long-term partnership with management teams. The India team targets control and significant minority investments in market-leading businesses where PAG can bring both capital and the operational and strategic expertise of its pan-Asia network. As part of a $55B+ platform with deep roots across Asia, PAG offers India portfolio companies access to regional distribution, talent, and growth pathways that pure domestic investors cannot provide.
Mayur Shah
SEBI Contact Person, PAG India Credit Opportunities Fund
Mayur Shah is the SEBI-registered contact person for the PAG India Credit Opportunities Fund (IN/AIF2/25-26/1970), registered in December 2025. He is reachable at mshah@pag.com.
Nikhil Srivastava
Partner & Co-Head of Private Equity, PAG India
Joined PAG in April 2019 to establish PAG's India office. Partner and Co-Head of Private Equity, responsible for India-focused investments. Previously spent almost a decade at KKR, evaluating and investing across India, Singapore, and the United States. Earlier at Goldman Sachs and Inphi Corporation, California. B.E. (Electrical & Electronics), BITS Pilani (University Gold Medalist); M.S. (Electrical Engineering), Stanford University; MBA, Harvard Business School.
Sumit Nadgir
Managing Director, PAG India
Managing Director at PAG India. Previously CEO of HiCare Services Pvt. Ltd. and Managing Director at True North. Career includes leadership roles at India Value Fund Advisors (IVFA), Bain & Company, and Kirloskar Oil Engines Ltd. B.E., College of Engineering Pune (COEP); MBA, IIM Calcutta.
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