Mr. Gupta manages Blackstone's private equity operations in India, which has made eight investments or commitments in India. In addition, he provides support for Blackstone's other businesses, including real estate and advisory services. Before joining Blackstone, Mr. Gupta served as CEO- Corporate Development for Reliance Industries Limited and Reliance Infocomm Limited. During Mr. Gupta's tenure, the Reliance group was India's largest private sector business house with diversified interests in petrochemicals, energy, power, telecom, and financial services. Mr. Gupta's efforts at Reliance were focused on developing Reliance's oil & gas, refining, and telecom businesses. Mr. Gupta began his career at Hindustan Lever, India's largest multi-national corporation. From 1981 to 1992 he worked in the U.S, first in consulting with Strategic Planning Associates and ICF in Washington D.C., then as Senior Vice President and Chief Financial Officer of Krauses Sofa (an integrated retailer and manufacturer of furniture), and after that as Chief Financial Officer and Chief Operating Officer of Stylus Inc. (another integrated retailer and manufacturer of furniture). Mr. Gupta received his B.Tech degree in Chemical Engineering, with distinction, from the Indian Institute of Technology, Delhi in 1973 and an MBA from the Graduate School of Business, Stanford University in 1981. Mr. Gupta serves on the board of Allcargo Global Logistics, CMS Infosystems, Emcure Pharmaceuticals, Gokaldas Exports, Intelenet Global Services, SKR BPO Services, MTAR Technologies, and Nagarjuna Construction Co. Mr. Gupta also serves on the Advisory Board of the Nanyang Business School, Singapore.

Akhil Gupta
Senior Managing Director and Chairman of The Blackstone Group

Rajiv Kaul, 45 is the Executive Vice Chairman and CEO of CMS Info Systems Pvt LTd.. a leading IT Services and Outsourced Business Services company in India. Following a successful professional career in the global technology and private equity sphere, in 2008 Rajiv decided to act on his personal entrepreneurial instinct, and partnered with The Blackstone Group, to identify and spearhead the change in control of CMS Info Systems Pvt. Ltd.. In his current role, Rajiv is driving the company's aggressive growth and transformation strategy, to attain a leadership position in its category. Prior to this Rajiv was a Partner with Actis Capital LLP (2006-2007). Based out of London, Rajiv was responsible for providing leadership for the technology sector, helping with deal origination in India and increasing the cooperation between the offices in India, China and South East Asia. Rajiv joined Actis from Microsoft Corporation, following a 10 year stint in a variety of senior management roles including Managing Director and Country Manager for India (2001-2005), and Senior Director (2005-2006) at its HQ in Seattle leading a strategic initiative to expand Microsoft's presence in emerging markets including BRIC. Rajiv joined Microsoft India in 1996 and over the next decade served in various sales, marketing, business development and services roles. In 2001 he rose to become one of the youngest Country Managers and Managing Directors at Microsoft and in corporate India. During his leadership, he built a strong team with one of the lowest attrition rates in the industry, which led Microsoft India to nearly triple revenues in four years despite the dot com bust and IT downturn following 9/11. In addition to delivering aggressive top line growth, Rajiv was a bottom line focused leader delivering contribution margins well over 80%. Rajiv's strategic vision led to Bill Gates announcing an unprecedented $400M investment into India in 2002, as well as a focus on global partnerships with leading Indian IT services companies like Infosys, TCS, Wipro, and Satyam. While charting this aggressive business growth, Rajiv also remained committed to building Microsoft India as a socially responsible corporate citizen. He aligned the company's business priorities with its responsibility in enabling broader access to technology through efforts like Project Shiksha ($20 million project towards strengthening education in India, which later evolved into a global $250 million Partners in Learning program) and Project Bhasha (through which Microsoft localized its products in 14 Indian languages, thereby making technology more accessible to a larger section of Indian society). As Senior Director for Emerging Markets, Rajiv's organization was responsible for creating new business models and building new technologies which laid the foundation for a business which expects to contribute over $1 billion in incremental revenues over five years. During his time at Microsoft, Rajiv won several global recognitions and awards, including Best Subsidiary award for 2001 and 2005; Best Manager (Asia Pacific and Japan) and Best practice awards in 1997, 2000, 2002 & 2003.

Rajiv Kaul
Executive Vice Chairman and CEO

Before joining Blackstone in 2006, Mr. Cyriac served as Head - Corporate Development and Strategy of iGate Global Solutions, a publicly listed IT Services company. Mr. Cyriac served as a board member of several of the iGate joint venture companies, namely, Ciber India, Software AG India and iGate LoanPro. Mr. Cyriac also served as the Chief Financial Officer of Quintant Services. As Chief Financial Officer, he led all the financing and other strategic transactions of Quintant and its eventual sale to iGate. Prior to joining Quintant, Mr. Cyriac was a Vice President in the Investment Banking Group at CSFB, based in the Los Angeles office for two years. In this capacity, he led several equity and debt offerings, and M&A transactions. Mr. Cyriac also worked in the Private Equity Group at Donaldson, Lufkin and Jenrette in India for over four years. He also served as a board member of the two DLJMB India portfolio companies. Mr. Cyriac also worked in the Investment Banking Division of Bank of America in India and in the Engineering Division of Tata Motors. Mr. Cyriac has a bachelor's degree in Engineering, and an MBA from the Indian Institute of Management Bangalore. He was awarded the IIMB Gold Medal for graduating at the top of his MBA class.

Mathew Cyriac
Managing Director in the Private Equity Group

Mr. Saldanha is a member of Blackstone's portfolio operations group and is responsible for that group's activities on behalf of portfolio companies of the Private Equity Group that are based in India. Prior to joining Blackstone, Mr. Saldanha was Executive Director and a Member of the Board of The Times of India Group where he focused on helping build organizational capability, culture and competitiveness for its Newspapers, TV Channels, Internet, and Radio businesses. Prior to that he was Managing Director of Haldia Petrochemicals Ltd. Prior to that Mr. Saldanha was with Hindustan Lever & Unilever Plc for thirty years, spending almost ten years in Latin America. Mr. Saldanha was Technical Director of Unilever Venezuela; and Vice-President - Supply Chain for Unilever Andina, (Venezuela, Colombia, Ecuador), rising to be Chairman and CEO of Unilever Peru. He was also a Member of the Unilever Latin America Board. Mr. Saldanha's forty-plus years of corporate experience in a wide range of functions ranging from manufacturing and planning to corporate development and general management have given him an ideal background for restructuring and reorganizing companies, as well as for managing partnerships and strategic alliances in the international arena. Mr. Saldanha graduated with a Mechanical Engineering Degree (BE Mech) from Pune University. He has gained wide international experience as a Founding member of the National Board of Advt Self Regulation (Peru); a Founding Member of the National Board for e-commerce (Peru); President of the International School in Valencia, Venezuela; and a member of the Dutch-Peru and UK-Peru Chambers of Commerce. He was a Founding President of Save the Children India, and President of the Delhi Management Association. He is currently on the Board of Bennet Coleman and Co, (the largest media group in India), and that of Asian Electronics.

Richard B. Saldanha
Executive Director in the Private Equity Group

Since joining Blackstone, Mr. Chakravarti has primarily worked on portfolio management, which involves monitoring the performance and development of Indian portfolio companies. Prior to joining Blackstone in 2008, Mr. Chakravarti had diverse operational experience with some of India's largest corporations. He spent over 18 years with Hindustan Unilever India (HUL) in various management and business leadership roles, within FMCG, Speciality Chemcials, Agro- inputs and International businesses and also led commercial functions such as Audit, Divisional Control and M&A. His last assignment with Hindustan Unilever was as Managing Director of a JV between Hindustan Unilever and the Dutch MNC Gist Brocades. After HUL, he joined Mahindra & Mahindra (M&M), and oversaw an organization transformation exercise in its Farm Equipment Division. Subsequently, Mr.Chakravarti served as the Chief Commercial Officer of Reliance Communications, one of India's largest private telecom service providers, during its start-up phase. Just prior to joining Blackstone, he was Chief Operating Officer of Bilcare Ltd., India, a pharmaceutical packaging and clinical services firm, serving the pharmaceutical industry in 22 countries including the United States, Europe and Latin America. Mr. Chakravarti, who started his career in management consulting, is an experienced trainer. He has undergone senior management training programs with the Wharton Business School and MIT, Boston, and subsequently worked extensively on in-company training at Unilever and M&M. Mr. Chakravarti holds a Bachelor of Science degree in Physics, and a Master of Arts degree in Economics, both received at the University of Lucknow, India. He has also received an MBA from IIM, Ahmedabad.

Gautam Chakravarti
Executive Director in the Private Equity Group