Former LTI CEO Sanjay Jalona Joins PE Chryscapital as Operating Partner
Sanjay Jalona, former managing director and managing director of Larsen & Toubro Infotech (LTI), will join private equity fund Chryscapital as an operating partner.
In May, L&T announced the merger of LTI and Mindtree, its IT services group companies, to create the industry’s sixth-largest company by revenue. Mindtree’s Debashis Chatterjee was named head of the combined entity, while Jalona, who ran the larger of the two merged companies, moved on.
Jalona will be the operating partner for the US-based business services sector for the private equity investor and will work closely with the advisory team led by Akshat Babbar in researching, identifying, evaluation, management and exit-related activities in relation to investments made in the sector. , according to a press release.
“…he will be instrumental in helping to accelerate the growth of the fund’s portfolio companies. ChrysCapital has the ambition to create a much greater impact in global IT in the years to come and partner with Sanjay is a crucial step in this journey,” said Kunal Shroff, Managing Partner of Chryscapital.
Jalona said he was impressed with Chryscapital’s focus, ability to spot trends early and its long-term horizon.
Founded in 1999, Chryscapital has nine funds and approximately $5 billion in assets under management. It relies on sovereign wealth funds, endowments, pension funds, funds of funds as investors, and its current bets in the business services sector include ResultsCX, Quest Global and GeBBS Healthcare.
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