General Atlantic hires Warburg, McKinsey pros for Asian push(2)

US private equity firm General Atlantic has expanded its Asian operations with two new managing directors: Former Warburg Pincus managing director Jeff Leng will join its Hong Kong office and former McKinsey managing director Ranjit Pandit will join its Mumbai office.

Leng worked on Warburg Pincus’ China investments since 1999, before which he worked in the investment banking division of Morgan Stanley. He has also held positions at China Southern Securities and the Ministry of Aviation, and has served on the boards of pharmaceutical company Hayao Group, China Hui Yuan Juice and medical device maker Lepu Medical.

“We’ve known of Jeff for several years,” a spokeswoman for General Atlantic said. “He expressed an interest in really focusing on growth companies, and that’s our main focus so the fit was really nice.”

Pandit worked at consulting firm McKinsey since 1980; he was most recently chairman of its India division. His consulting background will be an asset, General Atlantic’s spokeswoman said, enabling him to improve the operations of the firm’s portfolio companies in the region.

General Atlantic sees significant opportunities in both India and China, the spokeswoman said. The firm has invested more than $500 million (€366 million) in China since 2000, including a $100 million investment in computer maker Lenovo. General Atlantic’s China portfolio also includes WuXi PharmaTech, internet entertainment company Oak Pacific Interactive and semiconductor manufacturer Vimicro.

General Atlantic was one of the first large US firms to set up a permanent base in Mumbai. Since 2002 it has invested more than $600 million in nine investments in the country. In the next year alone the firm plans to invest in four or five more companies, and expects the size of its deals to increase.