Private equity firm General Atlantic has hired veteran technology dealmaker Jonathan Durham to expand in corporate buyouts; an area in which it has done little because of its focus on growth equity investments, two people familiar with the matter said.
General Atlantic sees opportunities to acquire more technology companies after valuations in the sector plunged this year; in the wake of market turmoil fueled by rising interest rates and Russia’s invasion of Ukraine, the sources said.
The sources requested anonymity because the matter is confidential. General Atlantic declined to comment while Durham did not immediately respond to a request for comment.
The New York-based firm has made 406 investments since its launch in 1980; yet it has acquired only 14 companies, according to data provider Crunchbase.
General Atlantic will continue to deploy its capital primarily in growth equity investments and has no plans at this stage for a dedicated buyout fund, the sources said.