February 11, 2019 / 2:45 AM / 3 months ago

MOVES-General Atlantic taps former CT Corp exec to lead Indonesian office

(Adds confirmation from General Atlantic, company statement)

By Anshuman Daga

SINGAPORE, Feb 11 (Reuters) - Global private equity firm General Atlantic confirmed on Monday that it had hired Ashish Saboo, a veteran dealmaker from Indonesian conglomerate CT Corp, to head its business in Southeast Asia’s biggest economy.

Citing sources, Reuters had reported earlier in the day that Jakarta-based Saboo had been hired as a managing director and would be responsible for General Atlantic’s first office in the country.

“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,” Sandeep Naik, head of India & Asia-Pacific at General Atlantic, said in a statement.

Saboo, who led business development at CT Corp for more than a decade and helped the conglomerate expand in the consumer sector, is also a co-founder of Mansionly, a service platform for interior and lifestyle services.

General Atlantic has invested more than $200 million in Southeast Asia and its current portfolio companies in the region include Indonesian food and beverage retailer PT MAP Boga Adiperkasa and Singapore-based online gaming and e-commerce firm Sea Ltd.

New York-based General Atlantic has $28 billion in assets under management globally. (Reporting by Anshuman Daga; Editing by Subhranshu Sahu)

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