PALO ALTO, CA--(Marketwire - November 18, 2010) - Symphony Technology Group (STG), a leading private equity firm focused on investing in software and technology-enabled services companies, today announced that it has hired Salil Pitroda as Principal. In his role, Pitroda will research potential investments, lead transaction execution and work with management teams in helping to build STG's portfolio companies.
"Salil is a very solid fit with the STG investment team," said Brad MacMillin, CFO of Symphony Technology Group. "He brings broad investment experience, a strong technology background and hands-on operating experience to the team. We're looking forward to his contributions as we continue investing our current fund."
Pitroda joins STG from the New York office of New Silk Route Partners, an investment fund focused on Asia, with $1.4 billion under management. In his position as Special Advisor, Pitroda worked with the firm's investment committee on transactions, portfolio companies, and firm strategy in the areas of software, telecom, financial services, business services, and energy.
From 2006 through 2009, Pitroda was with Old Lane, LP, a $4 billion public / private investment firm, which was acquired by Citigroup in 2007. Prior to the acquisition, Pitroda was a Principal, focusing on private investments in financial services, software, Internet, business services, and media. Following the acquisition, Pitroda managed a long-term, concentrated, value-oriented public equity portfolio in technology and financial services. He also assisted Citigroup's leadership with alternative investment strategy and distressed asset restructuring.
Prior to his time with Old Lane, Pitroda was a Vice President with Thomas H. Lee Putnam, a $1.1 billion middle market buyout and growth equity firm. While there, he invested in and actively managed a variety of businesses within on-line marketing, transaction processing, software development, and media.
Pitroda also has held investment and management positions with General Atlantic LLC and The Boston Consulting Group. He has an MBA degree from the Harvard Business School and Bachelor of Science degrees in Computer Science and Economics from the Massachusetts Institute of Technology (MIT).
About Symphony Technology Group
Symphony Technology Group (STG) is a strategic private equity firm with the mission of investing in and building great software and services companies. In addition to capital, STG provides transformation expertise to enable its companies to deliver maximum value to their clients, to drive growth through innovation, to retain and attract the best talent and to achieve best in class business performance. STG's current portfolio consists of eight global companies. For more information, visit: www.symphonytg.com.
Contact Information:
For more information, please contact:
Carol Sacks
TENOR Communications
650.520.8261