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Report: Bain Capital Credit hires director as part of expansion in India

Bain Capital LP unit Bain Capital Credit LP appointed Suruchi Nangia as a director as part of the U.S.-based group's plan to set up an independent team for credit operations in India, The Economic Times reported Aug. 27, citing two sources close to the development.

Nangia, who was formerly principal at global special situations fund AION Capital Partners Ltd., will join Bain Capital Credit in October.

Nangia, as well as spokespersons from Bain Capital and AION Capital, declined to comment on the matter, the publication reported.

U.S.-based Bain Capital is also looking to expand its special situations and distressed assets transactions in India with more investments from its US$1 billion Bain Capital Special Situations Asia LP fund.