Former Citigroup CEO Vikram Pandit has partnered with investment firm Atairos Group to launch a new company called The Orogen Group, which will make strategic investments in financial services businesses.
The companies did not disclosed terms of the deal, but said that the new entity will focus on building long-term strategic partnerships with growth companies having proven business models.
"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," Pandit said.
Orogen will be led by Pandit as chairman and CEO. In addition, Pandit will also serve as a senior advisor to Atairos.
The new company’s board of directors will include representatives from Atairos as well as Orogen.
Atairos chairman and CEO Michael Angelakis 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."