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Ratan Tata, the former chairman of Indian conglomerate Tata Group, is to take up a senior advisor role at the University of California’s (UC) investment office.
Ratna Tata will start his role on December 1, will advise on international policy, including Asian and Indian opportunities for UC’s $91 billion portfolios of retirement, endowment, and cash assets. CIO Jagdeep Bachher plans to invest up to $1 billion in Asian public and private markets in the next three years, according to a media statement.
“Ratan Tata is a business legend and inspiration. Given his wealth of experience and relationships in India and globally, the University of California will benefit immensely from his insights on the growth of global businesses as we enhance our Asian investments portfolio,” said Bachher said.
It would be a pleasure and an invigorating experience to work with Bachher and his team as they consider investments in innovative new technology startups and private companies in the US and Asia,” Ratan Tata.
It is to be noted Ratan Tata stepped down as chair of the Tata Group in 2012 after more than 20 years in charge of the company. During that period, it grew revenues from $5 billion in 1991 to more than $100 billion in 2012. The group has subsidiaries in dozens of industries such as steel production, car manufacturing, hotels, and even asset management.
He right now sits on the board of engineering company Alcoa and has advisory roles with Mitsubishi, JP Morgan Chase, Rolls Royce, and the Monetary Authority of Singapore. He also serves on the board of trustees of his alma mater Cornell University and the University of Southern California.