General Atlantic names managing director in India

Global private equity firm General Atlantic has hired McKinsey veteran Ranjit Pandit as a managing director in the firmÆs Mumbai office.

Pandit was most recently the chairman of McKinsey in India. He joined McKinsey in the US in 1980 and moved to Mumbai to co-found the firm's India office in 1993. Pandit worked with major US and other global companies in a variety of areas, including corporate governance, strategic alliances, technology management, manufacturing, marketing and sales. He played a leading role in building McKinseyÆs presence in India and has relationships that span Indian industry.

ôRanjitÆs understanding of the dynamics shaping the India market will be extremely helpful to our efforts in providing capital to growth companies," says William Ford, CEO of General Atlantic, in a written statement. "Moreover, Ranjit will be instrumental in assisting our global portfolio in their expansion to emerging markets in India and Asia."

Pandit has a masters in business administration from the Wharton School, University of Pennsylvania, following a bachelors degree in electrical engineering from the University of Bombay.

General Atlantic says the hire reflects its strong long-term view of investment prospects and market opportunities in India. The firm opened its office in Mumbai in 2002 and has invested nearly $1 billion in Indian companies. Its investments include a stake in the country's largest outsourcing firm Genpact, Mumbai-based Patni Computer Systems, Infotech, IBS Software Services, Hexaware and the National Stock Exchange (NSE), among others.