General Atlantic's MD Raul Rai resurfaces at Fidelity Growth Partners - reports

LiveMint, which broke the news, reported that sources close to the fund indicated that Fidelity may launch a bureau around Delhi, though representatives from the fund would not confirm the news. Reports that Mumbai-based Rai would depart General Atlantic surfaced in May, with industry observers believing that he would spin off his own mid-market private equity firm following his departure.

Fidelity Growth Partners India is the PE arm of Fidelity, focusing on growth investments in mid-sized companies across a variety of sectors. Its average investment size falls in the $10-$50 million range, which generally buys the fund minority stakes in companies. Its portfolio in India includes the Coastal Projects Private Limited, Manthan Systems and Shreem Electric Limited.

Rai, who joined General Atlantic in 2005, has also held the role of MD and Global Co-Head of Software Investment Banking at UBS, having served on TMT investments from 1996 to 2000 at Goldman Sachs in New York and London, and as Corporate Strategy and Planning Director with Vodafone/Vivendi JV Vizzavi Ltd. in London until 2002.

 

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