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 GA's Headquarters atPark Avenue Plaza | |
| Company type | Private |
|---|---|
| Industry | Private equity |
| Founded | 1980; 45 years ago (1980) |
| Founder | Charles F. Feeney |
| Headquarters | New York, New York, United States |
Number of locations | 16 offices |
Key people | Bill Ford (CEO) Anton Levy Gabriel Caillaux Martín Escobari (co-presidents) |
| Products | Growth capital |
| AUM | US$84.4 billion (2022)[1] |
Number of employees | 496 (2022)[1] |
| Website | generalatlantic |
General Atlantic, legal main entityGeneral Atlantic Service Company, L.P., (also known as "GA") is an Americangrowth equity firm providing capital and strategic support for global growth companies, headquartered inNew York, United States.[2] The firm was founded in 1980 as the captive investment team for Atlantic Philanthropies, a philanthropic organization founded byCharles F. Feeney, the billionaire co-founder ofDuty Free Shoppers Ltd.[3]
As of November 2021, General Atlantic has over $86 billion in assets under management and focuses on investments across five sectors, including Technology, Consumer, Financial Services, Healthcare, and Life Sciences. The firm has 185 investment professionals based inNew York City,Stamford,Palo Alto,São Paulo,London,Munich,Amsterdam,Beijing,Hong Kong,Mumbai,Shanghai,Mexico City,Singapore, andJakarta.[4][5]
In June 2023, General Atlantic were ranked ninth inPrivate Equity International's PEI 300 ranking of the largest private equity firms in the world.[6][7]
However, in June 2024, General Atlantic saw its ranking drop, ranking 15th inPrivate Equity International's PEI 300 ranking among the world's largest private equity firms.[8]
| History of private equity and venture capital |
|---|
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| Early history |
| (origins of modernprivate equity) |
| The 1980s |
| (leveraged buyout boom) |
| The 1990s |
| (leveraged buyout and the venture capital bubble) |
| The 2000s |
| (dot-com bubble to thecredit crunch) |
| The 2010s |
| (expansion) |
| The 2020s |
| (COVID-19 recession) |
General Atlantic was founded in 1980 as the captive investment team inside ofAtlantic Philanthropies, founded by billionaire Charles F. Feeney a co-founder ofDuty Free Shoppers Group. Two of the world's richest men, Bill Gates and Warren Buffett, credit Feeney as a major inspiration for both the $30 billion-strong Bill & Melinda Gates Foundation and the Giving Pledge, which has enlisted more than 90 of the world's richest to (eventually) grant half their wealth to charity.[9][10]
The firm was initially led by CEO Edwin Cohen, previously a partner ofMcKinsey & Company. Cohen was joined by Steven A. Denning, also from McKinsey & Company, as a founding member of the firm. Steven Denning served as General Atlantic's CEO from 1995 to 2006 and is now chairman Emeritus.William (Bill) E. Ford, who joined the firm in 1991, is the current chairman and CEO of General Atlantic.[11] In November 2019, General Atlantic announced the appointments of Gabriel Caillaux, Martín Escobari, and Anton Levy to Co-Presidents of the firm, expanding its senior leadership team with the newly created roles.[12][13] In December 2019, General Atlantic's Global Co-Head of Financial Services Paul Stamas was selected as one of GrowthCap's Top 40 Under 40 Growth Investors of 2019.[14]
General Atlantic focused initially on investments in computer software, oil and gas exploration, real estate and retailing. Among the firm's first major investments was United Health Services, which tripled in value in three years for the firm. By the late 1980s, General Atlantic began to expand its funding sources to include otherfamily offices, as well asfoundations andendowments.[15]
Coincident with General Atlantic's expansion of its funding source, the firm began exploring expanding its presence overseas. Starting in 1999, General Atlantic began to open offices in Europe and Asia and currently has 16 offices globally.[5] In 2018 General Atlantic invested in UK investment start-upGreensill Capital in an attempt to challenge traditional lending systems.[16] In 2019 the firm continued its investments in EMEA region by acquiring majority share inKiwi.com.[17]
In October 2023, General Atlantic acquired a minority stake in India-based travel-tech platform TBO for an undisclosed amount.[18] In November 2023, General Atlantic acquired a majority stake inJoe & The Juice for $641 million.[19]
General Atlantic agreed to acquire British investment firmActis Capital in January 2024. The acquisition finalized in October, after which Actis became General Atlantic's sustainable infrastructure arm.[20][21]
In October 2024, General Atlantic set up its first Middle East office.[22]
General Atlantic backedRoyalty Pharma ahead of the company's 2020 IPO, which was among the largest U.S. IPOs that year and was the second-largest pharmaceutical listing ever.[23] The firm also expanded its footprint in Asia in 2020 with an $870 million investment in India's digital services platformJio Platforms.[24]
In 2018, General Atlantic entered into a joint venture, Nucom ecommerce, withGerman mass media companyProSiebenSat.1 Media.[25] Later that year, NuCom purchased U.S.-basedonline dating websiteeHarmony.[26]
In October 2024, General Atlantic acquiredActis, a leading global investor in sustainable infrastructure. The merger expanded the investment platform to approximately $97 billion in operating assets.[27]
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