Chartered Accountant & CFA Charter holder, having ~27 years of capital markets experience, founded Carnelian asset management, a boutique investment management & advisory firm based out of India in 2019. Before starting Carnelian, he spent 17 years as the CEO of Edelweiss Securities Ltd., incubated & built several businesses to leadership including institutional equities, investment banking business & equity research
Has a strong business acumen & deep understanding of capital markets; enjoys strong reputation with corporate India.
Associated with several industry bodies and committees:
Member of Young Presidents Organization (YPO) a global forum for entrepreneurs and CEOs
Chartered Accountant & CFA Charter holder, having ~27 years of capital markets experience, co founded Carnelian along with Vikas. Before starting Carnelian, he spent 12 years as Dy. Head – Institutional Equity research, Head – forensic, thematic & mid cap research at Edelweiss Securities
Known for his non-consensus research. Pioneered differentiated forensic research, popularly known as “Analysis Beyond Consensus” (ABC research). ABC research has helped investors across the globe to take informed investment decisions based on true numbers instead of reported numbers, thus “avoiding pitfalls”- one of Carnelian’s virtues Has represented several committees of the CFA Institute including Chairperson of India advocacy committee and member of the US based global CDPC committee
With 23 years of financial experience, Swati exemplifies the important role of the Indian modern professional and empowered woman. Her professional journey has taken her to leading roles in equity research, institutional sales, client relationships and human capital management, all this, while raising a family and being an entrepreneur.
Along with Vikas Khemani and Manoj Bahety, she founded Carnelian Asset Management where she currently holds the key position of managing the overall business and capital management. Her mentoring skills have been instrumental to lay the foundation of a strong, cohesive and winning investment management team. She enjoys a good relationship with the investor & corporate community.
Patricia Perez-Coutts, CFA has a distinguished & extensive background with over 30 years of experience managing emerging market equities. She joined Westwood Holdings Group, Inc. in 2012 as a Senior Vice President & Portfolio Manager and led a team of analysts focused on managing emerging market equity
strategies.
Prior to that she worked at AGF Investments Management for over 10 years, also managing emerging market equity strategies. She has won numerous industry accolades throughout her career, including six consecutive Morningstar Canadian Investment Awards as Senior Vice President and Portfolio Manager of the AGF Emerging Markets Fund
Patricia is also an Impact investor, a philanthropist and is the Chair of the Board of Cuso International, a Canadian development organization and is also Chair of Viridis Terra International She has travelled extensively the world over the years and speaks four languages fluently
Vivek Chhachhi is a partner of CX Advisors LLP, and currently serves as the Chief Investment Officer also leading investments in healthcare and technology.
Vivek is serving/has served on the boards of several portfolio companies including Thyrocare, Nueclear,
Thyrocare Gulf, Healthium Medtech, Natco, Veeda, Sekhmet Pharma and Anjan Drugs
Prior to joining the Investment Advisor in 2010, he was a director with CVCI, where he had about 15 years of experience identifying, managing and exiting a large number of portfolio companies across a wide spectrum of industries.
We are a team united by different yet complementary strengths, forged through 27 years of friendship and over 17 years of professional collaboration. Each of us brings a unique perspective and expertise to the table.
Vikas possesses a wealth of experience in building and managing leadership businesses within the capital markets. His ability to view any issue through a multi-dimensional macro lens adds significant strategic depth to our discussions.
Manoj, with his extensive background in creating research platforms and pioneering products, contributes a level of detail and depth that enhances our analytical capabilities.
Swati adds a relationship-oriented approach to our organization, fostering a culture of calm, care, and intuition, which enriches our team dynamic.
In summary:
We are driven by passion.
We are committed to the long term.
We uphold a culture of open criticism and free expression of opinions.
This version clearly articulates the strengths and contributions of each team member, while also emphasizing the shared values that define the team.
