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Former Morgan Stanley CEO should be joined by General Atlantic as a strategic advisor, as the US private capital group with headquarters in the United States prepares a long-awaited initial public offer.
Gorman’s appointment will set one of the most attached financiers on Wall Street, which after the 2008 financial crisis led the revival Morgan Stanley Atlantic general How he plans to spread rapidly.
Gorman The leadership of General Atlantic, including the Bill Ford CEO, on strategy, growth plans and potential acquisitions for the investment group, which manages more than $ 100 billion, will advice.
“James will join the company as a senior advisor and work closely with me, the Committee and our higher leadership team as we plan a company course in the future,” Ford told the Financial Times.
Gorman said that General Atlantic spreads beyond his specialty in investments in high -growth technology, such as early hits with Facebook, Alibaba and Byteterace.
“I see it as solid with momentum,” Gorman said in an interview. “It will be the winner in what is very quickly consolidating, changing the industry.”
Gorman said he was also attracted to the New York’s investment group because of his philanthropic history; The company was founded by the late billionaire Chuck Feeney, who gave a wealth of more billion dollars built through the realm of a free retail.
General Atlantic’s IPO They could come to the end of this year, said people who met the issue. Confidentially submitted a commission for securities for public entry, FT reported in 2023and began diversification of investment operations before the offer.
It has expanded to private credit, infrastructure offers, climate technology and funds intended to buy used roles of private capital. By departing, General Atlantic would join the ranks of many large peers such as Blackstone Group, KKr and Apollo Global, who developed from Clubby private partnerships to public commercial companies.
General Atlantic, Ford and Gorman refused to comment on any IPO plans.
Ford said Gorman would advise General Atlantic on the estimation of several contracts for the purchase of a company presented. “James can help us a lot as we start sorting out [acquisition] Opportunities that are suitable for us and our strategy, which are not, “Ford said.
Gorman, Australian banker who is chairwoman Walt Disney, is expected to also help General Atlantic to manage the rapid growth of his property and number.
The group has about 1,000 employees, but it could be expanded quickly because it triggers new funds and builds a sales force for managing relations with a growing database of clients, including sovereign funds of wealth, pensions and individual investors.
Ford said that private capital “changed significantly, and we know that our strategy will need to develop to ensure that we are far into the future.”
