General Atlantic Appoints Ashish Saboo to Lead New Office in Jakarta

JAKARTA, Indonesia & NEW YORK–(BUSINESS WIRE)–General Atlantic, a leading global growth equity firm, today announced
the opening of a new office in Jakarta, its first in Indonesia, and that
it has appointed Ashish Saboo as Managing Director to lead General
Atlantic’s operations and on-the-ground presence in the country.

General Atlantic made its first investment in Southeast Asia in 1999 and
since then has invested more than $200 million in five companies.
General Atlantic currently has three portfolio companies in the region,
including: PT MAP Boga Adiperkasa (“MBA”), a leading food & beverage
retailer operating five exclusive brands in Indonesia including
Starbucks, Pizza Express, Krispy Kreme, Cold Stone Creamery, and Godiva;
Sea, one of Southeast Asia’s largest Internet and mobile platforms for
entertainment, e-commerce, and digital financial services; and
ZIMMERMANN, a global luxury fashion brand that designs and sells iconic
Ready-To-Wear and Swim & Resort collections through its online platform
and own retail stores, as well as select department stores, boutiques,
and online fashion retailers.

“The opening of our Jakarta office marks an exciting milestone in
General Atlantic’s history as we deepen our presence in Southeast Asia,
a market that has increasingly opened its doors to international
partners. With our core beliefs rooted in the value of growth and the
importance of aligning long-term interests, we see our approach
resonating across the region,” said Bill Ford, Chief Executive Officer
of General Atlantic.

“We have a long track record of investing in emerging markets and we
firmly believe that the most effective way to build partnerships with
the most promising growth companies is through having a presence on the
ground,” said Sandeep Naik, Managing Director and Head of India &
Asia-Pacific at General Atlantic. “Under the leadership of Ashish, we
look forward to meeting the best entrepreneurs that Indonesia has to

Ashish joins General Atlantic from CT CORPORA, a diversified
Indonesian-based holding company that is active in several industries,
including financial services, media, lifestyle, retail, property,
family-entertainment, and aviation, where he led business development
for the firm over last 12 years to make it one of the leading
diversified consumer players in Indonesia. Prior to joining CT CORPORA,
Ashish was an Executive Director at PwC, based in Jakarta, for almost 10
years. Ashish is also a co-founder of Mansionly, a global service
platform for interior and lifestyle solutions.

“Indonesia is a growing incubator for entrepreneurs and I believe that
General Atlantic, as a long-term investor with a deep understanding of
the fundamentals of growth, has an investment philosophy which is
well-aligned to the significant opportunities that exist here,” said
Ashish Saboo, Managing Director at General Atlantic. “I am excited to
have the opportunity to build on General Atlantic’s success in Southeast
Asia to date and work with the next generation of leading growth

Drawing from nearly 40 years of experience investing in over 350 global
growth companies, General Atlantic partners with entrepreneurs and
management teams building high-growth businesses. The firm has $28
billion assets under management as of June 30, 2018 and focuses on
investments across four sectors, including Consumer, Financial Services,
Healthcare, and Technology, with support from the firm’s global team of

About General Atlantic

General Atlantic is a leading global growth equity firm providing
capital and strategic support for growth companies. Established in 1980,
General Atlantic combines a collaborative global approach, sector
specific expertise, a long-term investment horizon and a deep
understanding of growth drivers to partner with great entrepreneurs and
management teams to build exceptional businesses worldwide. General
Atlantic has more than 150 investment professionals based in New York,
Amsterdam, Beijing, Greenwich, Hong Kong, Jakarta, London, Mexico City,
Mumbai, Munich, Palo Alto, São Paulo, Shanghai, and Singapore. For more
information on General Atlantic, please visit the website:


Mary Armstrong / Erin Smith
General Atlantic

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