Teachers Private Capital hires Rakesh Gangwal as senior advisor

Date: Wednesday, June 4, 2008
Author: Alt Assets

Teachers' Private Capital, the private equity arm of the Ontario Teachers' Pension Plan, has hired Rakesh Gangwal as a senior advisor. In his new role, Gangwal will be primarily responsible for sourcing and evaluating technology and business services transactions. He will provide both strategic counsel and portfolio support.

Previously, Gangwal was chairman, president and CEO of Worldspan Technologies and president and CEO of US Airways Group. He also worked at Air France and United Airlines. He currently serves on the boards of OfficeMax and PetSmart.

Erol Uzumeri, senior vice president, Teachers' Private Capital, said, 'We are very pleased that such a well-respected business leader has decided to lend his deep strategic, operational and business acumen exclusively to Teachers' Private Capital. He brings the value of his considerable business experience, expertise and recognised success to our team, partners and portfolio companies.'

Teachers' Private Capital has CAN$17bn in invested and committed capital under management. Earlier this year, the firm, alongside The Canada Pension Plan Investment Board, invested $200m each in newly established Chinese private equity fund FountainVest.