Ex-Pepsico India chief Shiv Shivakumar joins Advent International

Former Nokia India and Pepsico India chief Shiv Shivakumar, who was with the Aditya Birla Group most recently, has joined global private equity firm Advent International as its Operating Partner. He would be based in Gurugram. Advent, which has been investing in India since 2007, has a sizable portfolio in India with assets of nearly USD 3 Billion. In 2021, it had bought out Eureka Forbes, and in December 2022, it picked a majority stake in Suven Pharma. Its other investments in India include Dixcy Textiles, Enamor, DFM Foods and Manjushree Technopack. It also has a small stake in Aditya Birla Capital. Last year, Advent had done a USD 25 Billion fundraise and announced its intention of investing USD 5 Billion in India and Asia.