A slowdown in private equity(PE) dealmaking in India has not altered the plans of new PE firms including some bulge-bracket funds to set shop here. The latest to join the group is US billionaire Leon Black’s Apollo Management, which has appointed an Indian expat based at its UK unit to head the Indian operations. The firm joins a group of fund houses such as European buyout major Candover, Englefield Capital and Babcock & Brown. While a few of these new players have roped in the talent available within the country to head their businesses, others are bringing executives from across the shores. US-based Apollo Management has appointed one of its partners from the UK unit, Mintoo Bhandari, to head the India operations. According to sources, he is in the process of putting together a team in Mumbai. Globally, Apollo is estimated to have an asset base of more than $20 billion. Its portfolio includes companies like Linens n Things, the second largest home furnishing retail chain in the US, besides AMC Entertainment, which is America’s second largest theatre chain, and Countrywide (UK). It focuses on underperforming companies and distressed assets. Some of the sectors in which it has invested include chemicals, supply chain management, BPO, media, healthcare and transport.   more »