General Atlantic hires ex-ambassador to boost SE Asia coverage
General Atlantic has named its second Asia-based special advisor in a month with the appointment of John A. Prasetio (pictured) to help develop business opportunities in Southeast Asia, with a particular focus on Indonesia.
Prasetio, who was previously Indonesia's ambassador to South Korea, currently serves as president commissioner of the Indonesia Stock Exchange and a senior advisor to Crowe Horwath in the country. Past leadership positions include Asia Pacific CEO of Andersen Worldwide and regional senior advisory chairman of EY Global. Prasetio has also contributed to numerous Indonesian government advisory committees.
He will join a team of senior executives from around the world who share corporate expertise and industry best practices with General Atlantic portfolio companies. Fock Wai Hoong, General Atlantic’s head of Southeast Asia, said the addition of Prasetio would help the firm expand its relationships with leading family groups, entrepreneurs, and innovators in the region.
The appointment follows that of Yong Hak Huh, founder and CEO of First Bridge Strategies and formerly CIO of private markets and direct investment at the Hong Kong Monetary Authority. His special advisor role involves working with General Atlantic’s capital partnering team on deepening ties with family and institutional investors in Asia.
General Atlantic has been active in Asia since 1999 and has offices in Beijing, Hong Kong, Mumbai, and Singapore. As of year-end 2016, it had deployed $1.8 billion in China and a further $2 billion in India and other Asia Pacific markets. The firm focuses on five sectors: technology and the internet, financial services, business services, consumer and retail, and healthcare.
Since opening the Singapore office in 2011, General Atlantic’s investments in Southeast Asia have included: mobile internet and gaming platform Sea (formerly known as Garena); and MAP Boga Adiperkasa, a food and beverage retailer that is the local master franchisor for brands such as Starbucks, Pizza Express, Krispy Kreme, Cold Stone Creamery, and Godiva.
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