Private equity firm General Atlantic (GA) has appointed a former Indonesian ambassador to South Korea and prominent businessman, John A Prasetio, as a special advisor.
Prasetio’s new role is to support the firm’s strategic business initiatives in Southeast Asia, the company said in a statement today.
GA has recently invested $80.9 million in Indonesia’s retailer Mitra Adiperkasa (MAP), the local operator of global brands such as Starbucks and Cold Stone. The transaction marked GA’s first foray into the Indonesian market. The retailer’s unit, MAP Boga Adiperkasa, has said that it is planning to go public this year, selling 20 per cent stake.
Prasetio’s appointment might indicate GA’s intent to explore other opportunities in the country.
“With decades of experience serving in various leadership roles at leading global financial institutions, Mr Prasetio will work closely with General Atlantic’s Southeast Asian investment team to identify and support business opportunities in the region with a particular focus on Indonesia,” the statement said.
Prior to joining GA, Prasetio was the Ambassador of Indonesia to the Republic of Korea. He is currently president commissioner of the Indonesia Stock Exchange, senior advisor of Crowe Horwath Indonesia, and independent commissioner of SMN Telecommunication and Global Mediacom. He had worked with Andersen Worldwide as Asia Pacific CEO, Ernst & Young Global as regional senior advisory chairman, Bank Permata as independent commissioner, and Energy Development Corporation as outside director.
Prasetio has also held a number of leadership positions at government institutions and leading business associations, including serving as a member of the President’s National Economic Committee, the President’s National Business Development Council, the National Committee on Good Governance, the Investment Committee of the Investment Coordinating Board, the Association of Publicly Listed Companies Advisory Board, and the Special Staff of the Minister of Industry. Furthermore, Prasetio served as Vice Chairman of the Indonesian Chamber of Commerce and Industry and the Indonesia Chair of APEC Business Advisory Council.