SETBACKS: Subhiksha Retail

said an executive familiar with the discussions. The executive did not want to be named as the discussions are private.

“The (Catamaran) fund will wait to get an exit from its current investments. The focus will now be to look at investing more in listed firms,” the executive said.

Murthy and Narayanswamy did not respond to emails seeking comment. Premjiinvest declined to comment.

could not independently ascertain the total investments made by Catamaran since it was founded in 2009.

However, Catamaran’s performance pales in comparison to Premjiinvest, the family office of Azim Premji.

Since it was set up in 2006, Premjiinvest has become India’s largest family office, managing about $5 billion of assets, said a third executive familiar with the matter.