TR Capital has announced the opening of its third office in Asia, in Mumbai. This comes soon after the firm announced its successful exit from Indian e-commerce company Flipkart in May 2018. The Mumbai office will report to Paul Robine, founding partner and CEO of TR Capital. To ensure smooth operation, the firm has relocated several team members and will continue hiring locally. TR Capital continues to focus on its secondary investment strategy in the subcontinent, as it seeks further opportunities in a private equity market which in 2017 saw strong growth momentum.

Robine said, "We are proud to announce the opening of our Mumbai office. India has been a core market for TR Capital since 2008 with close to 20 secondary deals completed. The new office will allow us to closely work with our existing and potential investee companies."

Private equity in India is maturing and the development of the secondary market is a natural consequence of the large volume of private equity investments during the past 15 years. TR Capital is well positioned to provide liquidity solutions in these quality companies and we look forward to further enhancing our investment portfolio and building a strong local team."

The opening comes four weeks after the successful exit of its secondary investment in Flipkart Limited via a share buyback valuing the company at US$20 billion. The duration of this investment for TR Capital was over three years and was completed on 7 May 2018. Founded in 2007, Flipkart is the largest Indian e-commerce marketplace and is headquartered in Bengaluru, India.