General Atlantic appoints two special advisors

Former ABC Broadcasting president Robert Callahan and former Altria Group chief financial officer Dinyar Devitre have joined the global growth equity firm to identify and advise portfolio companies.

General Atlantic has hired two special advisors, former ABC Broadcasting president Robert Callahan and former Altria Group chief financial officer Dinyar Devitre, bringing its stable of special advisors to 10.

Callahan and Devitre will be responsible for providing expertise and strategic counsel to General Atlantic and its portfolio companies.

General Atlantic historically has not publicly announced special advisor appointments but has begun doing so since the appointment of former Uniprise chief executive Tracy Bahl in 2007.

“The special advisory role really depends on the individual and his background,” spokeswoman Pat Hedley told PEO. “They work on the board of directors of our companies and they also work with our deal teams by sector and by region as appropriate to their expertise.”

Leveraging his experience at ABC and also as former chief executive of Ziff Davis Media, Callahan works primarily with portfolio companies in the media and consumer sector. He works full-time at General Atlantic and serves on the boards of portfolio companies Network Solutions and Webloyalty.com.

Devitre’s previous role at multibillion dollar consumer products company Altria will make him a source of financial expertise for General Atlantic portfolio companies. “Dinyar’s background in Asia is going to be very helpful to our efforts there and he’ll probably spend some time looking at opportunities in India as well as in China,” said Hedley. Devitre works several days a week at General Atlantic and has not yet been appointed to the board of any portfolio companies.

Greenwich, Connecticut-headquartered General Atlantic has approximately $17 billion (€10.8 billion) under management and deploys about $2 billion per year in growth equity investments. Target investment size is between $50 million and $500 million.