Nishith Desai home-grown practice head Richie Sancheti to set up funds formation at Algo

Nishith Desai Associates (NDA) investment funds head, Richie Sancheti, who had been with the firm for 13 years, is due to join Algo Legal, we reliably understand.

Sancheti had joined NDA in 2007 right after graduating from GLC Mumbai, and had been managing NDA’s fund formation practice since the departure of Siddharth Shah in 2013 to Khaitan & Co.

Sancheti commented: “After 14 years at NDA, it was about a sense of rebooting from a professional perspective.”

“I look forward to set up and grow the Fund Formations practice at Algo, basis the deep seated technologies built into client deliverables,” he added.

NDA managing partner Nishith Desai commented: “Richie has been with the firm and my buddy in the fund practice for the past 14 years right from day one. He wishes to explore a new opportunity to do something different. Our blessings and good wishes to him. He is and will always remain part of NDA family.”

We understand that he will be setting up Algo’s funds practice in Mumbai. Algo has had a number of senior departures and joiners this year:

We have reached out to Algo for comment.

According to his Linked-in profile, he:

advises on optimum structures for setting up onshore and offshore investment funds. He advises fund managers in connection with the formation, carry allocation program and governance of private funds… [and] specializes in formation and operation of venture capital, private equity and open end funds that are focused on investing in India.

He has extensive experience in designing fund structures and advising on market terms. Richie is also a member of the firm’s international tax and private equity investment practice groups.

Richie Sancheti Work history From: Jun 2010 : Senior Associate , Nishith Desai Associates From: Jun 2007 : Head Investment Funds Practice , Nishith Desai Associates Education The Institute of Company Secretaries of India , Member , Corporate laws 2002 – 2007 : Government Law College , BLS.LL.B , Law

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