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General Atlantic, a global growth equity firm, has strengthened and expanded its investment team in India with several new hires. Under the leadership of Sandeep Naik, who joined the firm as a managing director and head of the firm’s Mumbai, India office in late 2012, GA’s India team now includes eight full-time investment professionals and two advisory directors.
General Atlantic LLC will acquire the shares held by Actis in Xiabu Xiabu, the Chinese bar-style hotspot brand. Specifics of the deal were not publicized. Xiabu has over 300 restaurants in places like Hebei, Liaoning and Shanghai.
Pierpont Securities Holdings, which is backed by Stone Point Capital and General Atlantic, has closed its buy of Cortview Capital Holdings after receiving FINRA approval. The two companies will continue to operate as separate broker-dealers until first quarter when the two firms will combine into a single entity called Pierpont Securities. Cortview, a Richmond, Va.-based broker-dealer, was launched in 2010 with a $125 million investment from Warburg Pincus.
Global growth investor General Atlantic has opened a new office in Munich, Germany led by principal Jörn Nikolay. General Atlantic opened its first European office in 1998 and has invested over 2.5 billion euros ($3.3 billion) to support the growth of Europe-based companies since then.
Yemeksepeti.com, an online food ordering service in Turkey and the Middle East, has secured a $44 million investment led by global growth investor General Atlantic, which has acquired a minority stake in the company. Endeavor Catalyst, a philanthropic investment vehicle also participated in the round.
TriNet, which is majority owned by General Atlantic, has acquired ExpenseCloud. Financial terms weren’t announced. Los Angeles-based ExpenseCloud is an expense management services provider. PRESS RELEASE TriNet, a trusted on demand HR partner to small businesses and entrepreneurs, announced today that it has acquired ExpenseCloud, a leading expense management solution. TriNet will incorporate ExpenseCloud’s offering [...]
Align Networks, which is backed by General Atlantic, is merging with Universal SmartComp, which is a portfolio company of The Riverside Co. Financial terms weren’t disclosed. The combined company will operate under the Align Networks brand name and be led by Align CEO and President Butch Hofstetter. Both General Atlantic and Riverside will remain investors [...]