Global private equity and distress assets investor Cerberus Capital is set to enter India as it seeks to tap the mounting opportunities in domestic stress assets space. Cerberus is in the process of setting up its office in Mumbai with senior-level hirings. For its India operations, Cerberus has hired Indranil Ghosh as managing director. Ghosh, former principal at special situation fund AION Capital Partners, will spearhead Cerberus′ investments in private equity and stressed assets, said two people aware of the development. He is expected to join in the first quarter of next calendar year. Founded in 1992, Cerberus has assets under management (AUM) of over $35 billion across credit, private equity and real estate verticals. In Asia, Cerberus has offices in Hong Kong, Singapore, Beijing and Tokyo. Cerberus has more than 650 professionals working from 14 offices around the world. As the regulations for buying stressed assets has been improved after passing of the Insolvency and Bankruptcy Code (IBC) two years ago, several global distressed funds are actively pursuing opportunities to set up offices or strengthening their positions in India.