Beta++ – Alpha Alternatives

Naresh Kothari

Founder & Managing Partner

Naresh is a seasoned finance professional with over 28 years of experience and the Founder and Managing Partner of Alpha Alternatives, India's leading multi-asset class alternatives platform. Known for its innovative risk-return solutions, Alpha Alternatives operates out of India and Singapore, employing over 175 professionals, including 15+ partners, and offering nine distinct investment strategies.

Before founding Alpha Alternatives, Naresh was a senior leader at Edelweiss Financial Services, where he spent 13 years building and scaling multiple businesses. As President, he led the Alternative Asset business, contributing significantly to its growth. Over his career, Naresh has advised over 100 corporates on capital market strategies and, in recent years, taken on board-level roles to drive strategic reorganization and growth.

A fitness enthusiast with a reputation for unconventional thinking, Naresh excels at crafting win-win solutions. He holds a PGDM from IIM Ahmedabad and a BE in Computer Science from the University of Mumbai.

Hrishikesh Parandekar

Head Domestic Client Relationships Group and Real Estate

Hrishikesh leads the Domestic Client Relationships Group and Real Estate Investing at Alpha. He plays a key role in driving sales and shaping business strategy.

Hrishi began his career as a consultant at McKinsey & Company before advancing to Managing Director at Morgan Stanley, US. He has also served as CEO for prominent organizations, including Karvy Group and Ambit Holdings. His real estate journey began as Chairman of the Sugee Group.

A Gold Medalist from IIM Ahmedabad, Hrishi holds a PGDM in Finance and Business Strategy and a Bachelor's degree in Accounting and Economics from the University of Mumbai.

Prashant Kothari

CEO & CIO at AA, Singapore

Prashant leads the International Client Relationships Group. He also serves as CEO & CIO of Alpha Alternatives, Singapore.

He has over 30 years of experience with expertise in financial services and investment management. Prashant began his career at Peregrine Securities in India, later moving to Wall Street with WI Carr Securities and Deutsche Bank. Transitioning to the buy-side, he held senior analyst roles at Artha Capital Management and SAC Capital Management. In 2006, he co-founded Geosphere Capital, managing Asian investments, and later established Ashiana Capital in 2014 focused on Asian long short equities. As Investment Director at Dymon Asia Capital, he managed the long short book across Asia.

Prashant holds a PGDM from IIM Ahmedabad, is a CFA charter holder, and earned his master's from Shri Ram College of Commerce. A certified life and executive coach, he shares guidance rooted in his rich and diverse experiences.

Prashant Mohanraj

Head Liquid Alternatives

Prashant leads the Liquid Alternatives Group and oversees the Equities Trading business at Alpha.

With 24 years of extensive experience in fund management and trading across Indian and global financial markets, Prashant is known for his disciplined approach to trading and risk management. Over the years, he has consistently delivered superior risk-adjusted returns through various market cycles. A proven leader and business builder, he has successfully established ventures in asset management, automated trading, physical bullion, and structured products. His prior roles include senior positions at UBS, Kotak, Edelweiss, and Quant.

Prashant enjoys travel, food and books. He is an avid fan of Sachin, Rohit, Fedex and Messi and is a keen enthusiast of the music of Morrison, Page, Plant, Bono and Cobain, among others. Prashant holds a PGDM from IIM Ahmedabad and a BE in Electronics from VJTI, Mumbai University.

Shreyans Mehta

Chief Financial Officer

Shreyans heads the Enterprise Solutions Group and serves as the Group Chief Financial Officer of Alpha. He oversees the firm's financials, capital-raising, and operational functions while driving strategic initiatives across multiple alternative asset classes. Since the inception of Alpha, Shreyans has played multiple roles in building the platform from the ground up.

Before joining Alpha Alternatives, Shreyans was part of the Young Leadership Program at Aditya Birla Group, managing their All-India Treasury operations. His diverse experience spans finance and strategy, investment banking, due diligence, taxation, and audit across various sectors.

Recognized for his exceptional contributions, Shreyans was named Best CFO in the Asset Management category at the Vibrant Bharat Summit by Assocham in 2024. In 2020, he was among the youngest winners of the CFO100 Awards, securing his place among India’s top financial leaders.

Shreyans is a Chartered Accountant (AIR 37) and holds a Master’s in Management from ESCP Europe, Paris along with a Bachelor’s in Commerce from Narsee Monjee College, the
University of Mumbai. A passionate cricket enthusiast, he brings the same strategic mindset, discipline, and team spirit to both the boardroom and the field.

Mudit Singhania

Head Commodities

Mudit leads the Commodities business at Alpha, bringing nearly two decades of expertise in the commodities industry.

A recognized person in the industry, Mudit has been instrumental in positioning commodities as a viable alternative asset class in India. His entrepreneurial vision led to the creation of India’s largest advisory platform for commodity investments and the launch of the country’s first commodity-focused Category III Alternative Investment Fund.

Prior to Alpha, Mudit played a pivotal role at Edelweiss, where he successfully built and scaled the agri-commodities business, contributing significantly to its growth and success.

Beyond his professional achievements, Mudit is a fitness enthusiast and holds a Bachelor of Management Studies degree from the University of Mumbai.

Kaushal Biyani

Head Illiquid Alternatives

Kaushal heads the Illiquid Alternatives Group at Alpha. He is the fund manager for the Structured Credit and the Build India Infrastructure funds. He also oversees structuring elements across the firm.

He began his career with Ernst & Young’s M&A team before joining the Essar Group, where he played a pivotal role in structuring complex deals and managing high-stakes negotiations. Notably, he led one of India’s largest FDI transactions and the execution of one of the country's largest corporate delistings.
Beyond his professional endeavors, Kaushal is a faculty member of the Art of Living Foundation, conducting meditation programs for corporate professionals, youth and rural parts of India.

Kaushal is a Bachelor of Commerce from the University of Mumbai and a Chartered Accountant (AIR 22).

Ashim Sahni

Head Quant

Ashim leads the Quant Trading business at Alpha.

He has over 12 years of experience in asset management in India and globally. Ashim began his career with private equity funds in France and Switzerland. Returning to India,

he joined Alpha Alternatives at its inception and has been instrumental in its growth. He also advised a $1 billion Canadian corporate pension fund, optimizing its portfolio design and manager selection to achieve top 1% performance in Canada within two years.

A mathematics enthusiast, Ashim is passionate about applying quantitative techniques to financial markets. He is an alumnus of the Indian Institute of Technology, Delhi, and holds a Master’s in Management with a major in Finance from ESCP Europe, Paris.

Nikky Bhatia

International Client Relation Team

Nikky is responsible for capital raising and managing investor relationships at Alpha, working with a wide range of institutional investors. She has over 18 years of experience with leadership roles across various organizations. Previously, Nikky held senior positions at Kotak Mahindra Bank, Batlivala & Karani Securities and PGIM India Mutual Fund, where she worked in sales, marketing, and building strategic partnerships.

Nikky holds a PGDBM from N L Dalmia Institute of Management and Research, as well as a Bachelor & degree in Management Studies from the University of Mumbai. Nikky enjoys playing badminton and exploring various genres of music.

Pinkush Aggarwal

International Client Relation Team, Dubai

Pinkush is based in Dubai and where he leads business development across the MEA (Middle East and Africa) region. He has 2 decades of experience across the financial advisory spectrum including private banking, private equity, venture capital and transaction advisory.

Previously, he worked as Senior Director – Private Equity & Corporate Advisory for ASAS Capital, a Dubai based financial advisory firm focused on private banking asset management & late-stage technology investing in US tech disruptors. He was also the Sr. VP for a Middle East focused Private Equity firm with investments across Healthcare, Education, and Logistics sectors. His early career includes roles at Citibank UAE, Standard Chartered Private Bank & ICICI Bank UAE.

Pinkush is interested in travel, music and sports and he is an avid padel and squash player. He holds a PGDM from Amity Business School, India and a Bachelor of Commerce degree from Delhi University.

Christian Simond

Advisor UK & Europe

Christian is based in London, where he leads European business development at Alpha. He has over 30 years of experience in financial markets, spanning capital markets, asset management, and trading.

Christian has served as a Director at Bear Stearns International (JPM) in risk arbitrage sales, managed an equity hedge portfolio for a prominent private bank in Switzerland, and was responsible for marketing and sales at Brevan Howard Asset Management LLP, Switzerland. Since 2016, he has raised capital through his partnership, Chene Vert Capital LLP (Hot Cross Funds), for several international investment managers in both public and private markets.

Christian received a BA (Hons) in Economics from the University of Kent, Canterbury, and holds the Certificate in Investment Management (CFA UK Level 4). He enjoys most sports, with a particular fondness for skiing and real tennis.

Chandan Bhandari

Chief Operating Officer (COO)

Chandan is the Chief Operating Officer (COO) and Director of Alpha Alternatives Singapore Pte. Ltd. As COO, Chandan oversees compliance, risk, finance, audit and operations for Alpha’s Singapore operations. Chandan has 10 years’ experience in investing and 8 years’ experience in investment operations and investor relations.

Chandan has previously worked across hedge funds in the UK and Asia. Starting his hedge fund career in London with PAAMCO in 2005 and Arden Asset in 2008, he has subsequently worked in Asia with Ashiana Capital, Aurigin,

Canopy Group Asia and Indea Capital, playing lead roles in launching and operating fund management businesses. Chandan received his Grande Ecole Master of Science in Management from HEC Paris and Bachelor of Engineering in Production from Punjab Technical University in India.

Karthikeyan Muthuswamy

Head Deep Value Solutions

Karthik leads deep value equity investing at Alpha. He has over 25 years of experience in equities investing and fund management.

Previously, he served as the Managing Director at Trident Advisors Private Ltd, an investment advisory firm that acted as the exclusive India advisor to Elliott Associates, L.P., a New York-based multi-asset hedge fund. Before his tenure at Trident, Karthik worked as a fund manager at M3 Investments for two years and spent four years as a director and analyst at Jeetay Investments.

He has also been involved in nonprofit and academic initiatives, serving as a trustee for The Mountain Institute of India and as a member of the executive council for the Centre for Emerging Markets Solutions at the Indian School of Business, Hyderabad. An Indian and Western classical music enthusiast, Karthik holds a Bachelor of Business Administration (BBA) degree from the University of Madras.

Ling Ling

Head of Operations

Ling Ling Yeo is based in Singapore and is the Head of Operations At Alpha. She has 12 years of experience in fund administration with exposure to both the buy-side & sell-side.

Previously, Ling Ling has worked with Citibank, UBS, and Citco Fund Services. Ling Ling graduated from The Royal Melbourne Institute of Technology University with a Bachelor of Business (Economics and Finance) degree with Distinction.

Apurva Muthalia

Real Estate Lead

Apurva leads Real Estate investing at Alpha focusing on building operating platforms and special situations in both residential and commercial sectors. He has over two decades of investment management and operational experience. He has been a key player in real estate investing since the sector opened to foreign equity in 2005.

Previously, he held leadership roles at Fosun Group, Aditya Birla Capital, IL&FS Investment Managers, and J.P. Morgan Asset Management. Throughout his career, he has been involved in various Investment & Advisory Committees and represented his firms on multiple company boards and industry forums.

An avid reader of the historical fiction and spy genres, he holds a Master’s degree in Management Studies (Finance) and a Bachelor’s degree in Commerce and Accounting from the University of Mumbai.

Sudipta Dhar

Co-CIO at AA, Singapore

Sudipta Dhar is the Co-Chief Investment Officer (Co-CIO) at Alpha Alternatives, Singapore. He has over two decades of experience in the financial sector. Sudipta is an expert in principal investing and has transaction experience across Southeast Asia, India, and Australia. He has deep experience in structuring, credit evaluation, and portfolio management. Previously, Sudipta worked as the Deputy CIO for GCS Capital Management, an investment advisor in Singapore. Prior to GCS Capital, Sudipta worked as a Director at Merrill Lynch - India securitization. Sudipta has worked at various other leading financial firms in India, like Citibank NA and ICICI Bank. He is a graduate of St Xavier’s College, Calcutta, and has completed his Post Graduation in Management Studies from IIM Ahmedabad.

Amit Kothari

Chief Operating Officer

Amit is the Chief Operating Officer (COO) at Alpha. He has over 25 years of experience across leading organizations like Barclays Bank, Kotak Mahindra Bank, Edelweiss, and PricewaterhouseCoopers (PwC) in India. His extensive BFSI background has equipped him to manage strategic assignments, including setting up treasury functions for large banks and working on global projects in New York, London, and Singapore. At Alpha, he is responsible for implementing the operations strategy of the firm, aligning with business imperatives and long-term goals.

Previously, Amit served as COO at Edelweiss’ Global Markets business for 7 years, managing enterprise functions. He also led the treasury at Barclays Bank India, overseeing liquidity and interest rate management for 7 years. Earlier, he was part of the setup team at Kotak Mahindra Bank, after beginning his career at PwC. Outside of his professional pursuits, Amit is an avid traveler and a big fan of cricket. Amit is a Bachelor’s in Commerce and a Chartered Accountant, Chartered Financial Analyst (USA), and Financial Risk Manager (GARP).

Saurabh Mittal

Domestic Client Relationships Group Lead

Saurabh is a senior member of the Domestic Client Relationships Group at Alpha. He has over 24 years of experience. Previously, he served as Executive Director and Cluster Head at Credit Suisse in Mumbai. His most extensive tenure was at Kotak Wealth, where he contributed for 11 years (2010-2021). Saurabh also held key roles at ASK Wealth Advisors, Motilal Oswal Securities, and Birla SunLife Asset Management. He has deep expertise in wealth management, advisory, and family office practices, having established and managed successful business franchises in these areas.

An avid traveller seeking diverse cultural exchanges, Saurabh holds a PGDBA from K.J. Somaiya Institute of Management Studies and Research, Mumbai, and a Bachelor's degree in Engineering (B.E) from M.B.M. Engineering College, Jodhpur .

Sarita Shetty

Head Marketing and Events

Sarita heads Marketing and Events at Alpha Alternatives, where she plays a pivotal role in enhancing the firm’s brand presence and organizing high-profile investor events.
With over 24 years of experience spanning hospitality, real estate, and institutional broking, she specializes in client relationship management and corporate access. Prior to joining Alpha Alternatives, Sarita served as the Head of Corporate Access at DAM Capital Advisors (formerly IDFC Securities), leading major investor conferences and corporate roadshows. Her strength lies in fostering long-term, strategic relationships with senior professionals, which has been instrumental in her success across industries.
Sarita holds a Bachelor of Commerce degree from Mumbai University and a Diploma in Hotel Management from Sophia College, Mumbai. Beyond work, she has a passion for classical dance and enjoys exploring lesser-known destinations, which keep her inspired and curious.

Suresh Maheshwari

Structured Credit

Suresh is an Entrepreneur Partner at Alpha Alternatives, leading the structured credit business. With over 28 years of experience in Indian equity and debt capital markets, he has successfully structured innovative solutions for large Indian corporations and PSU banks. Suresh is a Fellow Chartered Accountant (FCA), a member of the Institute of Cost and Management Accountants (ICMA), and holds a B.Com (Hons) degree. His extensive expertise in capital markets and strategic structuring has made him a valuable asset in driving the growth of structured credit initiatives at Alpha Alternatives.

Shiva Bajaj

Commodity Trading

Shiva oversees the commodities arbitrage and trading business at Alpha Alternatives. With over 8 years of experience, he has honed his skills through roles at TCS and Edelweiss, where he worked with the commodities and agri trading teams. Shiva holds a Bachelor of Engineering (B.E.) and an MBA in Finance from Mumbai University, combining technical expertise and financial acumen to drive strategic initiatives in commodities trading.

Bheru Jain

Board Member

30 + years of experience in investing in commodities and other alternative asset classes.
• CEO Rajasthan Gum Private Limited, the largest guar gum and guar manufacturer, exporter, and financial investor
• Significant investment in windmills and solar power projects across 8 states

Abhishek Dalmia

Board Member

Abhishek Dalmia is a Board Member of Alpha Alternatives Holdings Private Limited. He has over 30 + years of experience in building and managing businesses and investing in both primary and secondary markets. Before pivoting to investing, he
• Led the overall management of the cement operations of his family business, OCL India Ltd for 5 years. Before pivoting towards investing He was also the
• key driver of the takeover bid by Renaissance Estates on GESCO Corporation for unlocking shareholder value.
• He is currently the Chairman of Renaissance Group which focuses on compounding capital with a value investor bias. Notable investments include Revathi Equipment's and Semac Consultants.
He is a beneficent philanthropist in the education sector. He is a Member of the Board of Advisors of Literacy India, a Gurgaon-based NGO, that has been running schools for the underprivileged since 1995. Mr. Dalmia is a B. Com (Hons) from Shri Ram College, Delhi University, and a
• CA rank-holder (AIR 15) &; ICWA; B. Com (Hons) from Shri Ram College, Delhi University

Pradeep Parakh

Independent Director

Pradeep Parakh has been an Independent Director of ALPHA ALTERNATIVES FINANCIAL SERVICES PRIVATE LIMITED since September 29, 2022. He has experience of over 32 years (including 29 years with listed companies) in dealing with matters relating to company law, securities laws, corporate governance, SEBI Regulations, M&A, corporate restructuring, debt restructuring, legal and financial due diligence, GRC (governance, risk and compliances) management, legal drafting, documentations and compliances relating to private equity, public offerings, IPO, FPO, Rights issue, Preferential Issue, QIP, GDR/ FCCB issue, ESOP, takeover regulations, listing formalities and compliances with the stock exchanges, SEBI& corporate law compliance, FEMA Compliances, GST Compliances. His work experience spans the Birla Group, Paharpur Group, Ambuja Cements Group and the Bajaj Group. Currently, He is currently the founder and partner of TruCSR (CSR platform) and is also a practicing company secretary. He holds a Bachelor’s degree with Honors in <add discipline> from Calcutta University and is a Fellow Member of both the Institute of Chartered Accountants of India (ICAI) and the Institute of Company Secretaries of India (ICSI).

Bharati Aindley

Independent Director

Bharati Aindley has been an Independent Director of ALPHA ALTERNATIVES FINANCIAL SERVICES PRIVATE LIMITED since September 29, 2022. Bharati has experience of over 20 years of experience in Corporate, Contract, Civil, and Family law. Her experience spans
law firms, corporates, and her independent practice including over 100 Appearances at the <add location> High Court & Lower Courts. She has worked on multiple corporate assignments such as ANZ Grindlays v/s National Housing Bank, ABCL Corporation matters, Bennett Coleman Company Limited (BCCL), Citibank, and Deutsche Bank, among others.
She is presently, running an independent legal consultancy practice handling litigation and is also an External General Counsel for corporates.
She independently handles high court litigation matters in areas of property matters, Testamentary matters, Appeals from Lower Court orders, and writs. She has an LLB from Government Law College (GLC), Mumbai University, and holds a. B.Sc. degree in Chemistry from Ramnarain Ruia College, Mumbai.

Radhakrishnan Nair

Independent Director

Radhakrishnan Nair has been an Independent Director of the Investment Manager ALPHA ALTERNATIVES FUND-INFRA ADVISORS PRIVATE LIMITED since February 14, 2024. He holds a Bachelor of Science degree from Bangalore University and a Master of Science degree from the University of Delhi. He also holds a Bachelor of Laws degree from the University of Delhi and an MBA degree from Master of Business Administration from the Indira Gandhi National Open University. He has around forty 40 years of experience in the banking industry and in the field of securities and insurance regulation. He started his banking career with Corporation Bank in August 1976 and left Corporation Bank in March where he worked until March 2010. During his stint at Corporation Bank, he served as Officer, and Manager and was also the Regional Manager and Assistant General Manager (Zonal Head) for various locations and regions. He also served as Deputy General Manager and then General Manager at Corpbank Securities Limited from I999 to 2003. He went on to become a General Manager at the Head Office where he worked on the development of priority sector lending, regional rural banks, credit risk management, loan review, recovery, securitization, one-time settlements, legal services, etc. From July 2005 to March 201 I0, he was seconded to the Securities and Exchange Board of India (SEBI), where, as an Executive Director, he worked in the Investment

Shubhada Manohar Rao

Independent Director

Dr. Shubhada Rao is the Independent Director of the Investment Manager since February 14, 2024. She has obtained a Doctor of Philosophy (Arts) in Economics from the University of Bombay. She holds a Master of Arts in Industrial Economics (Gold Medallist) from the University of Bombay. She served as a Senior Group President at Yes Bank from 2006 to 2020. She is also a director on the boards of Aequs Private Limited and Institutional Investor Advisory Services India Limited.

Vijay Chhibber

Independent Director

Vijay Chhibber has been an Independent Director of the Investment Manager ALPHA ALTERNATIVES FUND-INFRA ADVISORS PRIVATE LIMITED since February 14, 2024. He is a former IAS officer of the 1978 batch of Manipur-Tripura Cadre. He holds an MA in History from St. Stephens College, Delhi University, and is an alumnus of the National Defence College. He is a retired civil servant with over 37 years of Public Service in the Indian Administrative Services. He has served as the Secretary, of the Ministry of Road Transport & Highways, and was also the Chairman of the National Highways Authority of India. He was also advisor to the Chief Minister, Government of Tripura. He has served on the boards of National Highways and Infrastructure Development Corporation Limited, J M Baxi Ports & Logistics Private Limited, Shipping Corporation of India Limited, Vizag General Cargo
Berth Private Limited, Scania Commercial Vehicles India Private Limited, and EV Motors India Private Limited. Currently, he is serving on the board of Dilip Buildcon Limited ('DBL'), a company engaged in the construction of roads, airports, bridges, tunnels, metros, etc, as an independent director since 2017. He is also serving on the board of Sagarmala Coastal Limited and Reach to Teach Foundation.

Our Investors

At Alpha Alternatives, our investors are more than just stakeholders—they are trusted partners in our journey to reimagine investing. Remarkably, 5 out of every 6 investors in our network have joined us through referrals, a testament to the trust and performance we deliver. Together, we’re building a community that thrives on shared success