Top 28 Private Equity Firms in Mumbai For Jobs (2025)

Last updated on July 14th, 2026 at 02:57 pm

So, Mumbai is home to anything and everything related finance and its use. That includes large investment bank MNC head quarters, or small boutique firms. In this article, I will discuss the Top 28 Private Equity firms in Mumbai.

List of Private Equity Firms in Mumbai

So, with no time wasted below are the Top 28 Private Equity Firms in Mumbai, which are SEBI Registered.

Private Equity Jobs in Mumbai

Now, I have written extensively on the reality of private Equity salary in India. Which, you can read to understand the various types of opportunities in this field. However, in this article I am going to be focused on the various core finance jobs in private equity firms in Mumbai.

Avendus Capital Private Equity Firm in Mumbai

So, avendus is a home grown name in the alternative investment space in India. In fact, it is one of the largest investment banks in Asia by deal volume.

Jobs Available at Avendus Capital in Mumbai

• Associate – Front End Investment Banking – IIM/ISB/MDI/FMS (1-3 yrs)
• Avendus – AVP – Frontend Investment Banking – CA/IIM/ISB/MDI/FMS (3-9 yrs)
• Avendus – Manager – Marketing & Corporate Communication (2-6 yrs)

So apart from these live jobs posted, at the time of this article being written. Avendus, also has its own anaylst program for hiring

Ambit Private Equity Mumbai- Research Associate

Ambit capital is again, a big name in the institutional equities space. Now, this might not be a direct private equity job. But, since ambit has a private equity fund, this job might be your indirect entry into the PE space.

Skill Sets Required:

• · Keen interest in the automotive space
• · Understanding of various drivers in the auto sector, especially the changing powertrain aspects
• · Ability to build and maintain complex excel databases, decipher a wide plethora of data from arious industry sources
• · Perform secondary and primary research through channel checks, etc. to gather information about market size, key players, their management teams, suppliers, customers, products, etc.
• · Strong analytical and quantitative aptitude, keen attention to detail.
• · Hands-on knowledge of Excel and Word and market databases like Bloomberg etc.
• · Excellent communication skills, both verbal and written.
• · Ability to multi-task and work in a high pressure environment.

Motilal Oswal- Associate Private Equity Job Mumbai

MOSL, along with broking and  fund management also has legs in private equity space. So, let me show you the job responsibilities.

Experience

• 1-4 years of experience after post-graduation in a private equity, investment banking firm and/or equity research
• Understanding of accounting and various valuation techniques
• Well versed with financial modelling and demonstrated experience in building financial models from scratch
• Prior experience in Life Sciences & Healthcare sector (will be a plus) Qualification: MBA Finance from a premier business school and/ or CA Other Qualification: Bachelors / Master’s in Pharmaceuticals / Chemical or a MBBS degree (not mandatory)

Pantomath Capital- Associate- IB

So, pantomath is a mid service investment bank in Mumbai, with presence across 12 countries.

Description :

Work on Execution / diligently on all deal or mandates assigned and ensure timely completion of all work :

a) Preparation of collaterals

b) Coordination with various stakeholders for seamless execution of the Transaction (due diligence and documentation)

c) Contribute towards negotiation and closing.

• Identifying opportunities in the industry assigned and conducting prospective meetings.

• Ideate leads in the focus sectors which should potentially translate to mandates and revenue. The leads could be buyside, sell side, PE raise or capital markets related; Oversee research for business development; Preparation of collaterals for business development.

• Work area includes preparation of deal documents (IM, Financial model, pitches etc), assisting in DD process thus leading to successful completion of the transaction.

• Working on building further understanding of the Consumer sector, and building network in the assigned sub sector.

• Assist in landscaping and ideation for creation of leads/mandates; Creation of collaterals for business development; Support the team in getting mandates.

Qualifications:

• CA or MBA with 2 – 5 years of cumulative work experience preferable in investment banking domain

• Strong knowledge of markets & experience with handling growth transactions

• Superior analytical skills, must be able to think creatively and achieve results quickly.

Private Equity Firm job market in Mumbai

Mumbai has over 550 private equity job opportunities as of July 2025. Due to robust GDP growth, continued deal flow, the outlook for private equity jobs in Mumbai remains strongly positive into late 2025. Despite possible volatility in fund-raising, the city’s role as India’s financial hub ensures it remains the center for new hiring and career advancement in PE/VC. Mumbai features a concentration of global and domestic PE leaders including Kotak, IIFL, Avendus, Motilal Oswal, and others who routinely recruit for analyst, investing, and operational roles across their platforms and portfolio companies. The Mumbai private equity job market in 2025 is dynamic, high-paying, and increasingly diverse, with expanding opportunities both in deal teams and operational/tech roles, as global and domestic capital continues to fuel growth and talent competition in the industry.

How to Break Into Private Equity in India: A 6-Step Guide

Private equity in India doesn’t hire the way investment banking does. There’s no structured campus pipeline at most funds, headcount is tiny relative to demand, and almost nobody gets hired straight out of college into a PE analyst seat. If you’re serious about it, here’s the realistic path — not the LinkedIn-influencer version.

Step 1: Get your technical foundation right before you target PE at all

PE interviews assume you can already build a three-statement model and an LBO from scratch, cold, without hand-holding. This isn’t something you pick up on the job — you need it walking in. If you’re starting from limited exposure, build this first through structured financial modeling training (our free financial modeling course with templates is a reasonable starting point, and our beginner’s guide to Excel financial modeling covers the fundamentals PE screens for). Don’t skip this step assuming you’ll “learn on the job” — PE funds don’t train juniors the way Big 4 or bulge-bracket IB does.

Step 2: Add a credential that signals investment judgment, not just accounting

Most successful PE entrants in India carry either a CFA charter, an MBA from a target school, or CA + a demonstrated shift toward markets and valuation work. If you’re CA-qualified and considering this route, our guide on <becoming an investment banker after CA> covers the mindset shift, and it applies almost identically to PE. If CFA is your path, our CFA classes in Mumbai and Navi Mumbai roundup and <CFA salary in India> breakdown will help you gauge whether the timeline and ROI fit your situation before you commit two to three years to it.

Step 3: Use investment banking or equity research as your entry point — not PE directly

This is the part most aspirants get wrong. Indian PE funds recruit almost entirely laterally, from IB analysts (2-3 years in), equity research analysts, Big 4 transaction advisory teams, and occasionally strategy consulting. Very few funds hire freshers directly. So your actual Step 3 is: get into IB or equity research first, do the 2-3 year grind, and use that as your launchpad. Start with our top investment banks in Mumbai list or, if boutique firms feel more realistic for a first break given how competitive bulge-bracket hiring is On the equity research side, our equity research analyst explainer and <equity research internships in India> roundup cover the parallel entry path — research experience translates directly to PE’s investment-thesis-building work.

Step 4: Build a deal narrative, not just a resume

By the time you’re trying to lateral into PE, interviewers care less about your pedigree and more about what deals you’ve actually touched — sourcing, diligence, modeling, negotiation exposure, whatever you got close to. If you’re in IB operations or a support function rather than front-office deal execution, be honest with yourself about how much of a “deal narrative” that gives you; our investment banking operations skills guide is useful context here, but recognize operations experience alone rarely converts to a front-office PE seat without a deliberate pivot into execution-facing work first.

Step 5: Prepare specifically for PE case interviews — they’re not IB interviews

PE interviews lean heavily on LBO modeling under time pressure, investment memo writing, and “would you invest in this business” case discussions — a different skill set from the technical rapid-fire of IB interviews. Our equity research analyst interview questions guide covers adjacent territory (valuation judgment, thesis defense) that overlaps meaningfully with what PE interviewers probe for, even though it’s written for a research audience.

Step 6: Network deliberately — most PE hiring in India never gets posted

Given how few analyst seats exist at any given fund, a large share of India PE hiring happens through warm introductions — from IB coverage bankers who know which funds are hiring, from portfolio company contacts, or from placement agents who specialize in buy-side roles. If you’re building this network from a Mumbai base, start with the boutique and mid-market IB community first; they’re more accessible than bulge-bracket contacts and often have direct relationships with the domestic PE funds actively hiring at the analyst-to-associate level.

The honest timeline: most people who break into Indian PE do it 2-4 years into their career, not straight out of college — plan your IB or equity research years as the actual first step, not a detour.

Salary at PE Firms in Mumbai

Compensation data in Indian PE is thin and inconsistent — most funds don’t publish figures, and platforms like Glassdoor pull from a handful of self-reported entries, so treat any number here as directional, not a guarantee. That said, aggregated recruiter benchmarks and industry salary surveys converge on a reasonably consistent pattern across levels.

Where the real money is, and where it isn’t: cash compensation at the Analyst and Associate levels in PE often looks comparable to — sometimes even lower than — what a strong bulge-bracket IB analyst earns in the same years. The gap opens at Principal and above, where carried interest (a share of the fund’s profits, typically vesting over 7-10 years) can multiply total compensation several times over base salary. This is worth knowing before you make the jump: the first 3-4 years in PE can feel like a pay cut relative to staying in IB, and the payoff is a long-term bet on the fund’s performance, not an immediate one.

Global megafunds vs. India-focused funds: Firms like Blackstone, KKR, and TPG generally pay a premium in absolute cash terms over India-focused funds such as Kedaara, ChrysCapital, or Everstone at equivalent levels — but the India-focused funds often offer more meaningful carry allocation relative to fund size for those who stay through multiple cycles. Neither is a strictly “better” choice; it depends on whether you’re optimizing for near-term cash or long-term carry exposure.

Mumbai specifically: since the large majority of PE fund offices — both global and India-focused — are headquartered or maintain their largest India team in Mumbai (see our <PE firms in Mumbai list>), these figures are effectively the Mumbai benchmark. Compensation in other cities for PE-specific roles is a much thinner data set, since most funds simply don’t maintain large teams outside Mumbai, Delhi-NCR, and Bengaluru.

How this compares to the IB path most people take to get here: if you’re weighing whether to stay in investment banking longer versus making the PE jump early, it’s worth comparing this table against IB compensation at the same years of experience — a first-year bulge-bracket IB analyst in Mumbai earning ₹22-28 LPA is already in a similar band to a PE Analyst, without carrying PE’s longer vesting horizon on the upside.

Recommended Pathway to Private Equity

Now, I am going to also give you a framework to understand, how to get into private equity firms in Mumbai. First of all understand, that an investment bank, equity research or private equity is very similar because the technical skills are common.

So I’ll first list out the common technical skills

• Firstly, financial statements analysis.
• Secondly, Business understanding and research( By far the most important skill required in Private equity).
• Thirdly, valuation and not just DCF valuation but all kinds of valuation.
• Finally, excellent writing skills.

New Fund Launches 2026

If you're job-hunting into PE, this section matters more than most of this page — a fund actively raising or closing a new vehicle is usually the strongest hiring signal you'll get, since new capital under management almost always means new headcount to deploy it.

The bigger picture first: India PE/VC fundraising hit an all-time high in 2025, with $23.2 billion raised across 123 individual fundraises — the highest annual fundraise count on record, more than double the $9.8 billion raised in 2024. That momentum has carried into 2026, even as overall deal investment activity has moderated and become more selective. In practical terms: funds are sitting on more dry powder than they've had in years, and that capital needs deploying — which is exactly the environment where hiring tends to pick up, even when the broader deal market feels cautious.

Notable 2026 fund activity relevant to the Mumbai/India market:

• ChrysCapital Fund X closed at $2.2 billion in late 2025 — the largest India-focused PE fund raised to date, signaling continued LP confidence in domestic growth-equity strategies.
• Kedaara Capital Growth Fund IV closed at roughly $1.74 billion, continuing Kedaara's run as one of the largest India-headquartered mid-market PE platforms.
• Multiples Alternate Asset Management's Fund IV reached a first close above $640 million in 2025, with the firm targeting a fund north of $1 billion — following the same trajectory as ChrysCapital and Kedaara before it.
• Eversource Capital began marketing a green infrastructure fund targeting around $700 million, focused on India and South Asia — part of a broader trend of climate and infrastructure-focused vehicles gaining traction alongside traditional buyout and growth funds.
• Blackstone's Asia private equity fundraising reportedly reached a record $13.1 billion in mid-2026, with India representing a meaningful share of that regional allocation given the firm's continued scale-up here.

FAQ

What is private equity firm?

Private equity firm is a financial organization from investors to create a pooled fund which is used to invest in organization or while acquiring the company.

Is 2025 a good year for private equity

Yes a strong year for private equity firms as we see more hiring in 2025 from the firm's side. New capital inflows are seen along with economics growth

What is a salary of private equity firm employees in Mumbai?

Salary in Mumbai ranges from 15-25LPA and can be more for working in well known private equity firm.

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