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General Atlantic-Reliance Retail deal | All you need to know about the PE firm

General Atlantic has approximately $34 billion in assets under management as of March 31, 2020

September 30, 2020 / 12:26 PM IST

Private equity (PE) firm General Atlantic Partners will invest Rs 3,675 crore in Reliance Retail in exchange for a 0.84 percent stake, the third deal sealed by the Reliance Industries (RIL) unit in as many weeks.

The investment values Reliance Retail at a pre-money equity value of Rs 4.28 lakh crore, RIL said in an exchange filing on September 30.

This marks the second investment by General Atlantic in an RIL subsidiary, following a Rs 6,598.38 crore investment in Jio Platforms earlier this year.

So here’s all you need to know about the private equity firm:

> General Atlantic is a leading global growth equity firm with a 40-year track record of investing in the Technology, Consumer, Financial Services and Healthcare sectors.

> The firm has approximately $34 billion in assets under management as of March 31, 2020.

> It has more than 150 investment professionals based in New York, Amsterdam, Beijing, Greenwich, Hong Kong, Jakarta, London, Mexico City, Mumbai, Munich, Palo Alto, São Paulo, Shanghai, and Singapore.

> General Atlantic has a $3 billion stake in India. Some of its holdings include NoBroker, edtech giants Unacademy and Byju’s, payments processor BillDesk, and National Stock Exchange of India.

> Other major firms in its portfolio include Airbnb, Alibaba, Ant Financial, Box, ByteDance, Facebook, Slack, Snapchat, Uber.

Disclaimer: Reliance Industries (RIL) is the sole beneficiary of Independent Media Trust which controls Network18 Media & Investments

Moneycontrol News
first published: Sep 30, 2020 09:19 am