 "Sanjay Jalona, CEO and MD, LTI")
Sanjay Jalona, the former chief executive and managing director of Larsen & Toubro Infotech (LTI), will be joining private equity fund Chryscapital as an operating partner.
In May, L&T had announced a merger of LTI and Mindtree, its group companies engaged in information technology services, to create the sixth biggest company in the sector by revenues. Mindtree's Debashis Chatterjee was named as the head of the combined entity, while Jalona, who headed the bigger of the two merging companies, moved out.
Jalona will be the operating partner for the business services sector based in the US for the PE investor and work closely with the advisory team led by Akshat Babbar in sourcing, identifying, evaluating, management and exit related activities in relation to investments made in the sector, according to a statement.
"...he will play an instrumental role in helping accelerate the growth for the fund's portfolio companies. ChrysCapital has ambitions of creating a far bigger impact in global IT in the years to come and joining hands with Sanjay is a crucial step in that journey," Chryscapital's managing partner Kunal Shroff said.
Jalona said he is impressed with Chryscapital's focus, ability to spot trends early, and long-term horizon.
Established in 1999, Chryscapital has nine funds and approximately USD 5 billion of assets under management. It counts on sovereign wealth funds, endowments, pension funds, fund of funds as its investors, and its present bets on the business services sector include ResultsCX, Quest Global and GeBBS Healthcare.
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