General Atlantic expands India team

Existing team members Ranjit Pandit and Abhay Havaldar have both been named advisory directors.

The Mumbai team, which now includes eight full-time investment professionals and two advisory directors, is headed up by Sandeep Naik, who joined the firm as managing director in late 2012.

The firm said that the new hires underscored its commitment to pursuing growth equity investment opportunities in India and South East Asia.

"As an important high-growth economy, India will continue to be a core element of General Atlantic's strategy of investing in growth companies around the world," said William Ford, CEO of General Atlantic in a statement. "GA is active in several Indian sectors opening up to new investment, including financial services, healthcare, technology, business services, and consumer retail. We also see attractive investment opportunities arising from the rapid growth of the emerging middle class."

General Atlantic manages approximately $17 billion and invests between $1.5 billion and $2 billion per year in growth companies globally.

Since it opened an investment advisory office in Mumbai in 2002, General Atlantic has invested about $1.2 billion in Indian growth companies, including its most recent investments in  logistics company Fourcee and financial services provider IndusInd Bank.

In India itself, General Atlantic claims to have returned over $1.4 billion making it one of the most successful investors in the region. Other current and prior portfolio companies include Genpact, Mu Sigma, National Stock Exchange (NSE), InfoTech, IBS Software Services, Jubilant, and Patni.

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