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BW Businessworld

Shyam Maheshwari Moves On To A New Innings From Ares SSG

BW Businessworld learns exclusively through its sources that Maheshwari, one of the founders of SSG Capital has decided to move on from the firm. We understand from our sources that he is likely to enter a new inning as an entrepreneur in the investment domain.

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Ares SSG has been synonymous with Shyam Maheshwari for many years through the key deals done by SSG Capital in the country, including through ACRE. 

BW Businessworld learns exclusively through its sources that Maheshwari, one of the founders of SSG Capital has decided to move on from the firm. We understand from our sources that he is likely to enter a new inning as an entrepreneur in the investment domain.

BW Businessworld reached out to the firm which confirmed the development. “After over 12 years as a founder of SSG, Shyam Maheshwari in July 2021 decided to leave Ares SSG to dedicate more time to his family, especially his children, and pursue his interests in philanthropy and other personal interests”, said a spokesperson for ARES SSG. He further added: “Over the years, Maheshwari has made significant contributions to our company, particularly in the India market, where he has helped us build a strong business, and importantly a deep team of senior investment professionals who are well-positioned to carry on our successful Indian business.”

Maheshwari will be staying until the end of 2021 in order to facilitate a smooth transition. While confirming the news, the firm was not forthcoming on details of who would be replacing Maheshwari. Queries regarding the company’s long-term vision and future capital commitment to the Indian market also remained unanswered.

Ares SSG, set up in 2009 by former members of Lehman Brothers’ Asia special situations group, has, in the past, backed developers Emaar MGF, Lotus Greens and Lodha Developers, and mortgage lender PNB Housing Finance in India. With a pan-Asian presence, Ares SSG is one of the largest alternative asset managers in the Asia-Pacific with about $7 billion in assets under management, more than 80 employees, and over 120 direct institutional investors as of 31 December. It also has exposure to real estate through Shapoorji Pallonji Finance, in which it picked up a 46.87 per cent stake in 2018. Ares SSG’s most recent acquisition in India was  Altico Capital. 

Shyam Maheshwari is a Founder and Partner at ARES SSG. Maheshwari is also an Associate Member at The Institute of Chartered Accountants of India and on the board of various companies. He received an undergraduate degree from the University of Calcutta and an MBA from the Indian Institute of Management Bangalore.


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