Mumbai, Aug. 5: Samir Arora, star fund manager and the face of Alliance Capital — a leading foreign asset management firm with significant exposure in the Indian markets — has jumped ship and teamed up with Rana Talwar’s Sabre Capital Worldwide to float a new venture for asset management business in India.
Alliance, the foreign principals headquartered in New York, confirmed Arora’s move. “Samir Arora as head - Asian emerging markets, who is based in Singapore, will transition his responsibilities over the next month before he leaves”, the statement said.
Simultaneously, Sabre Capital announced a new venture in funds management in India in association with Samir Arora.
Arora has earned the sobriquet of Savvy Manager in the market for his aggressive approach in taking investment calls.
The formation of the new company is subject to Securities and Exchange Board of India and other regulatory approvals, Sabre Capital said.
“We are delighted to be investing in the high growth area of Indian fund management in association with Samir Arora,” Talwar said.
Meanwhile, Alliance Capital Asset Management (India) Pvt Ltd announced the appointment of Rajnish Narula as CEO and M. S. Verma, former chairman of Telecom Regulatory Authority of India, a director on the company’s board.