General Atlantic
Encyclopedia
General Atlantic is a private equity
investment firm. The firm invests through growth capital
injections, control buyouts
, industry consolidations, build-ups
, recapitalization
s, and PIPEs
. In addition to funding, the firm provides strategic support to portfolio companies.
Founded in 1980, GA manages approximately $17 billion in capital and has more than 75 investment professionals based in Greenwich
, New York City
, Palo Alto, London
, Düsseldorf
, Hong Kong
, Beijing
, Mumbai
, Singapore
and São Paulo
.
According to Private Equity International
, a proprietary ranking of the largest 300 private equity firms in the world, General Atlantic is the 12th largest private equity firm in the world (2011 PEI 300) with approximately $15.1 billion of capital raised over the preceding five-year period.
, which he had endowed. The firm was initially headed by Edwin Cohen, who had previously been a partner of McKinsey & Company
. Cohen was joined by Steven Denning as a founding member of the firm and as of 2011 has remained with the firm as GA's chairman. GA's current CEO is William (Bill) E. Ford.
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 source to include other family office
s, as well as foundations
and endowments
. In the late 1990s, media attentioned related to the sale of Duty Free Shoppers (DFS)
, for the first time drew attention to Chuck Feeney and General Atlantic not allowing him to maintain the level of anonymity that Feeney desired.
The firm name, General Atlantic, was created to be generic and unassuming to help reflect Chuck Feeney's preference for a low profile - many companies used generic words like “General” and “Atlantic” but nobody had both.
Private equity
Private equity, in finance, is an asset class consisting of equity securities in operating companies that are not publicly traded on a stock exchange....
investment firm. The firm invests through growth capital
Growth capital
Growth capital is a type of private equity investment, most often a minority investment, in relatively mature companies that are looking for capital to expand or restructure operations, enter new markets or finance a significant acquisition without a change of control of the business.Companies...
injections, control buyouts
Leveraged buyout
A leveraged buyout occurs when an investor, typically financial sponsor, acquires a controlling interest in a company's equity and where a significant percentage of the purchase price is financed through leverage...
, industry consolidations, build-ups
Roll-up
Roll-up may refer to:* Fruit Roll-Ups, a fruit snack available in the United States of America and in Australia* Rollup, a tactic of investors who acquire and then merge similar small companies...
, recapitalization
Leveraged recapitalization
In corporate finance, a leveraged recapitalization is a change of the capital structure of a company, a substitution of equity for debt —e.g. by issuing bonds to raise money, and using that money to buy the company's stock or to pay dividends...
s, and PIPEs
Private investment in public equity
A private investment in public equity, often called a PIPE deal, involves the selling of publicly traded common shares or some form of preferred stock or convertible security to private investors. In the U.S...
. In addition to funding, the firm provides strategic support to portfolio companies.
Founded in 1980, GA manages approximately $17 billion in capital and has more than 75 investment professionals based in Greenwich
Greenwich, Connecticut
Greenwich is a town in Fairfield County, Connecticut, United States. As of the 2010 census, the town had a total population of 61,171. It is home to many hedge funds and other financial service companies. Greenwich is the southernmost and westernmost municipality in Connecticut and is 38+ minutes ...
, New York City
New York City
New York is the most populous city in the United States and the center of the New York Metropolitan Area, one of the most populous metropolitan areas in the world. New York exerts a significant impact upon global commerce, finance, media, art, fashion, research, technology, education, and...
, Palo Alto, London
London
London is the capital city of :England and the :United Kingdom, the largest metropolitan area in the United Kingdom, and the largest urban zone in the European Union by most measures. Located on the River Thames, London has been a major settlement for two millennia, its history going back to its...
, Düsseldorf
Düsseldorf
Düsseldorf is the capital city of the German state of North Rhine-Westphalia and centre of the Rhine-Ruhr metropolitan region.Düsseldorf is an important international business and financial centre and renowned for its fashion and trade fairs. Located centrally within the European Megalopolis, the...
, Hong Kong
Hong Kong
Hong Kong is one of two Special Administrative Regions of the People's Republic of China , the other being Macau. A city-state situated on China's south coast and enclosed by the Pearl River Delta and South China Sea, it is renowned for its expansive skyline and deep natural harbour...
, Beijing
Beijing
Beijing , also known as Peking , is the capital of the People's Republic of China and one of the most populous cities in the world, with a population of 19,612,368 as of 2010. The city is the country's political, cultural, and educational center, and home to the headquarters for most of China's...
, Mumbai
Mumbai
Mumbai , formerly known as Bombay in English, is the capital of the Indian state of Maharashtra. It is the most populous city in India, and the fourth most populous city in the world, with a total metropolitan area population of approximately 20.5 million...
, Singapore
Singapore
Singapore , officially the Republic of Singapore, is a Southeast Asian city-state off the southern tip of the Malay Peninsula, north of the equator. An island country made up of 63 islands, it is separated from Malaysia by the Straits of Johor to its north and from Indonesia's Riau Islands by the...
and São Paulo
São Paulo
São Paulo is the largest city in Brazil, the largest city in the southern hemisphere and South America, and the world's seventh largest city by population. The metropolis is anchor to the São Paulo metropolitan area, ranked as the second-most populous metropolitan area in the Americas and among...
.
According to Private Equity International
Private Equity International
Private Equity International, is the flagship monthly magazine published by PEI Media, a London-headquartered financial media group dedicated to global alternative asset classes....
, a proprietary ranking of the largest 300 private equity firms in the world, General Atlantic is the 12th largest private equity firm in the world (2011 PEI 300) with approximately $15.1 billion of capital raised over the preceding five-year period.
History
General Atlantic was founded in 1980 by secretive billionaire Charles F. Feeney to invest on behalf of the Atlantic PhilanthropiesAtlantic Philanthropies
The Atlantic Philanthropies is a private foundation created in 1982 by US businessman Charles F. "Chuck" Feeney. The Atlantic Philanthropies grant-making supports health and social projects in Australia, Bermuda, Northern Ireland, Republic of Ireland, South Africa, the United States and Viet Nam...
, which he had endowed. The firm was initially headed by Edwin Cohen, who had previously been a partner of McKinsey & Company
McKinsey & Company
McKinsey & Company, Inc. is a global management consulting firm that focuses on solving issues of concern to senior management. McKinsey serves as an adviser to many businesses, governments, and institutions...
. Cohen was joined by Steven Denning as a founding member of the firm and as of 2011 has remained with the firm as GA's chairman. GA's current CEO is William (Bill) E. Ford.
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 source to include other family office
Family office
A family office is a private company that manages investments and trusts for a single wealthy family. The company's financial capital is the family's own wealth, often accumulated over many family generations. Traditional family offices provide personal services such as managing household staff and...
s, as well as foundations
Private foundation
A private foundation is a legal entity set up by an individual, a family or a group of individuals, for a purpose such as philanthropy. The Bill & Melinda Gates Foundation is the largest private foundation in the U.S. with over $38 billion in assets...
and endowments
Financial endowment
A financial endowment is a transfer of money or property donated to an institution. The total value of an institution's investments is often referred to as the institution's endowment and is typically organized as a public charity, private foundation, or trust....
. In the late 1990s, media attentioned related to the sale of Duty Free Shoppers (DFS)
DFS (retailer)
DFS Galleria is a chain of upscale department stores and shopping malls comprising high-end boutiques, located primarily within Oceania and around the Pacific Rim. Its website proclaims it to be "the world's leading luxury retailer catering to the travelling public"...
, for the first time drew attention to Chuck Feeney and General Atlantic not allowing him to maintain the level of anonymity that Feeney desired.
The firm name, General Atlantic, was created to be generic and unassuming to help reflect Chuck Feeney's preference for a low profile - many companies used generic words like “General” and “Atlantic” but nobody had both.
Investments
Since inception, General Atlantic has invested in nearly 200 growth companies. Among the most notable companies in which the firm has invested are the following:- BM&F Bovespa
- CompuwareCompuwareCompuware Corporation is a software company with products aimed at the information technology departments of large businesses. The company's services also include testing, development, professional services automation, project and portfolio management, cloud-based collaboration and performance...
- E-Trade
- Emdeon
- FacebookFacebookFacebook is a social networking service and website launched in February 2004, operated and privately owned by Facebook, Inc. , Facebook has more than 800 million active users. Users must register before using the site, after which they may create a personal profile, add other users as...
- First Republic BankFirst Republic BankFirst Republic Bank is a bank and wealth management company offering personal banking, business banking, trust and wealth management services. The bank specializes in delivering personalized relationship-based service through preferred banking or trust offices on the US East and West Coasts,...
- GenpactGenpactGenpact Limited is a global business process and technology management company. It was formerly a GE owned company called GE Capital International Services or GECIS. It operates from India, China, Guatemala, Hungary, México, Morocco, the Philippines, Poland, the Netherlands, Romania, Spain, South...
- GETCO
- Gilt GroupeGilt GroupeGilt Groupe is a shopping website based in the United states, offering its members merchandise, clothing, home decor, delicatessen food, travel and activities. Gilt Groupe was founded in 2007 and has 3.5 million members...
- Hewitt AssociatesHewitt AssociatesHewitt Associates , based in Lincolnshire, Illinois, United States was a global human resources outsourcing and consulting firm delivering a complete range of integrated services to help companies manage their total HR and employee costs, enhance HR services, and improve their workforces.Hewitt...
- Kaspersky LabKaspersky LabKaspersky Lab is a Russian computer security company, co-founded by Natalia Kaspersky and Eugene Kaspersky in 1997, offering anti-virus, anti-spyware, anti-spam, and anti-intrusion products...
- Lenovo
- Markit
- MercadoLibre.comMercadoLibre.comMercadoLibre.com or MercadoLivre in Portuguese is a website dedicated to e-commerce and online auctions. It is eBay's Latin American partner. MercadoLibre is Latin America's number-one e-commerce site...
- Network SolutionsNetwork SolutionsNetwork Solutions, LLC is a technology company founded in 1979. The domain name registration business has become the most important division of the company. As of January 2009, Network Solutions managed more than 6.6 million domain names.-History:...
- New York Mercantile ExchangeNew York Mercantile ExchangeThe New York Mercantile Exchange is the world's largest physical commodity futures exchange. It is located at One North End Avenue in the World Financial Center in the Battery Park City section of Manhattan, New York City...
- NYSE Euronext
- Oak Pacific InteractiveOak Pacific InteractiveOak Pacific Interactive , established in 2002, is a Beijing-based Chinese holding company.Oak Pacific Interactive is the second-largest operator of social networking websites in China, after taking ownership of one of the most viewed Web sites in China MOP.com, information technology portal Donews...
- Priceline.comPriceline.comPriceline.com is a company and a commercial website that helps users obtain discount rates for travel-related purchases such as airline tickets and hotel stays. The company is not a direct supplier of these services; instead it facilitates the provision of travel services by its suppliers to its...
- PrivaliaPrivaliaPrivalia is the trading name for Privalia Venta Directa, SA, an online private-sales club, with operations across Spain, Italy, Brazil and Mexico...
- Red VenturesRed VenturesRed Ventures is an American marketing services company incorporated in the State of South Carolina. The company acquires customers for providers of home, consumer, business, automotive, remodeling, financial and educational services. These service providers include DirecTV, ADT Security Services,...
- RiskMetricsRiskMetricsThe RiskMetrics variance model was first established in 1989, when Sir Dennis Weatherstone, the new chairman of J.P. Morgan, asked for a daily report measuring and explaining the risks of his firm. Nearly four years later in 1992, J.P...
- Staples.comStaples, Inc.Staples Inc. is a large office supply chain store, with over 2,000 stores worldwide in 26 countries. Based in Framingham, Massachusetts, United States, the company has retail stores, serving customers under its original name in Austria, Brazil, China, France, Germany, India, Italy, Norway,...
- Studio ModernaStudio modernaStudio Moderna is the largest television shopping organization in Central and Eastern Europe. It was founded in Slovenia in 1992 by Sandi Cesko, Branimir Brkljac and Livija Dolanc, and now has a presence in 21 other CEE countries...
- Tickets.comTickets.comTickets.com is a Costa Mesa, California-based global ticketing company. The company is owned by Major League Baseball Advanced Media, the interactive media and Internet division of Major League Baseball, and currently handles sales of tickets for 15 major league teams...
- UpromiseUpromiseUpromise, Inc. is an American corporation launched in April 2001, that is owned by SLM Corporation, the parent of Sallie Mae. Upromise claims to be the largest private source of college-funding contributions in the United States, with $575 million accrued in members' Upromise "college savings...
- XchangingXchangingXchanging PLC is an outsourcing company for business processes, with a wide range of multinational customers in 42 countries.Xchanging offer a range of "partnering" and outsourcing contract arrangements. In "partnering", Xchanging share any profit and capital benefits from productivity...
- Zhong Sheng
- Zagat SurveyZagat SurveyZagat Survey was established by Tim and Nina Zagat in 1979 as a way to collect and correlate the ratings of restaurants by diners. For their first guide, covering New York City, the Zagats surveyed their friends. As of 2005, the Zagat Survey included 70 cities, with reviews based on the input of...
External links
- General Atlantic (company website)