NEW YORK--(BUSINESS WIRE)--Vikram S. Pandit and Atairos Group, an independent private company focused on supporting growth-oriented businesses, today announced that they are creating The Orogen Group (“Orogen”), a new operating company that will make control and other strategic investments in financial services companies and related businesses. Orogen will be governed by a Board of Directors including representatives from both Atairos and Orogen, with Mr. Pandit serving as Chairman and CEO. Mr. Pandit also will serve as a Senior Advisor to Atairos.
The financial services industry is going through a significant re-architecture driven by changes in regulation and new technology and data-driven business services solutions. Orogen believes that over time the industry will evolve from one dominated by large, leveraged conglomerate banks and unregulated non-bank financial companies to a broader and more decentralized network of vertical financial services companies.
By leveraging the combined expertise and resources of its partners, Orogen will focus on building significant long-term strategic partnerships with growth companies with proven business models where it sees an opportunity to create value as the financial services industry evolves.
Mr. Pandit said: “I look forward to working with Michael and his team to identify exciting opportunities in the financial services sector and drive long-term value creation in our underlying businesses.”
Michael Angelakis, Chairman and CEO of Atairos, added: “We believe Vikram and his team’s strategic and operational expertise, coupled with Atairos’ long-term view and resources, will bring tremendous value to growing companies in the dynamic financial services sector.”
The new company will launch immediately. Terms of the transaction were not disclosed.
About The Orogen Group
The Orogen Group was created by Vikram S. Pandit and Atairos Group as a private company focused on making significant long-term control and other strategic investments in financial services and related businesses. Orogen delivers the resources, expertise and extensive strategic and operational experience of its partners to growth companies with proven business models where Orogen can create value over time. The Orogen Group is based in New York. Additional information can be found at www.orogengroup.com.
About Atairos
Atairos is an independent, private company focused on supporting growth-oriented businesses across a wide range of industries. Atairos provides a unique combination of active strategic partnership and patient long-term capital to high-potential companies and their management teams. Atairos was launched in 2016 with more than $4 billion in committed capital and has offices in New York and Bryn Mawr, PA. For more information, please visit www.atairos.com.