The management team of Indian equity specialist Ocean Dial Group (ODG) have agreed to buy out the business from its parent company Caledonia Investments.
The buyout will see former Henderson manager David Cornell (pictured) and other senior Ocean Dial staff join forces with Raju Shukla, former head of Barclays Capital India, to acquire the entire ODG business. Shukla will take a controlling stake in ODG's newly-created parent company, Ocean Dial Investment Company (Singapore). ODG's UK subsidiary Ocean Dial Asset Management will continue to manage the firm's India Capital Growth fund (ICGF) and the Gateway to India fund (GTIF). "In [Shukla] we have gained a partner and investor who is able to bring value to the company," said Cornel...
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