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General Atlantic invests in Asian Genco

General Atlantic, a growth equity firm, has taken a significant equity position in Asian Genco, an infrastructure company which has investments in power generation assets in India and in engineering services businesses.

GA has made its investment as part of a USD425m investment by a consortium of investors, which also includes Morgan Stanley Infrastructure Partners, Goldman Sachs, Norwest Venture Partners, Everstone Capital and PTC India Financial Services.
 
The goal is to create Asian Genco as one of the leading power generation platforms in India.

The funding will help Asian Genco to bring its existing power projects under construction to fruition and develop the organisational infrastructure to rapidly add new clean, renewable energy projects.
 
Ranjit Pandit (pictured), managing director at General Atlantic, says: “Given its focus on renewable energy in a region with an enormous need for power, Asian Genco represents an excellent platform for building a world-class company. In addition to providing the capital to fund Asian Genco’s growth, we will work closely to build Asian Genco’s management team to accelerate the growth of Asian Genco’s power generation assets across India and explore additional opportunities in renewable energy.”

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