Altico Capital managing director, head of structuring and general counsel (GC) Mrinal Chandran, who was part of the founding team of the fund, will join Bain Capital and Piramal Enterprises joint venture India Resurgent Fund (IRF) as GC some time next month.

He will move from the non-banking financial company (NBFC) Altico to the Bain-Piramal JV, which was founded last year with reportedly and expectedly a $1bn kitty to invest in Indian distressed assets.

It is understood that he will be the first in a GC role at the fund.

We have reached out to Chandran but have not received a comment in response.

Chandran is a 2000 NLSIU Bangalore graduate who had been with Altico since 2007, when it was still called Clearwater Capital Partners.

Before that, he was a corporate and private equity lawyer at erstwhile Amarchand Mangaldas and DSK Legal. In 2005 he completed an LLM in banking and finance law from Boston University’s School of Law, and in 2015-16, he completed Harvard Business School’s program for leadership and development.

Chandran is also independent director of the VW Group’s non-banking financial company, Volkswagen Finance Private Limited.

The Altico Capital legal team also includes former Phoenix Legal partner Kartikeya Singh, who had moved to Bank of America Merrill Lynch as assistant general counsel (GC) in 2015, joining Altico in 2016 as senior vice president legal, which is now an executive director position.