JAKARTA (TheInsiderStories) – Global alternative asset manager Carlyle Group LP (NASDAQ: CG) has hired Robby Winarta, a former Credit Suisse Group AG’s Indonesia investment-banking head, as Managing Director in Asia aims to step up its activities in Southeast Asia.
Winarta, who has almost two decades of experiences in investment banking in Indonesia will be based in Jakarta starting July 2, 2018 and lead the company’s investment activities in Indonesia.
Previously, Winarta worked at Credit Suisse for 20 years and last served as Head of Investment Banking Coverage in Indonesia for five years. He is based in Jakarta for 16 years, and previously worked in New York and Singapore, as well as for Credit Suisse. He earned a bachelor’s degree from Nortwestern University in the United States.
“I am delighted to be joining Carlyle Asia, as one of Asia’s largest and strongest private equity platforms. Indonesia is a vibrant and fast-growing country, where I believe it will continue to realize investment opportunities, driven by attractive demographics and a growing middle class,” Winarta said in official statement, Thursday (24/5).
He intends to leverage Carlyle’s global market experience and industry knowledge to support Indonesia’s investment activities, as well as enhance long-term added value to local companies in the country.
Recently, the Indonesian equity market has gone through a bumpy ride beginning with the global sell-off in February as rising risk factors saw outflows.
The Jakarta Composite Index (JCI) clocked a negative return of 7.2 per cent on a year-to-date (YTD) basis as of May 17, as investors sold rupiah assets.
As foreign holdings of Indonesian equities and bonds are high (about 40 per cent of the total), Indonesian assets are usually hit harder than its Asean counterparts in times of heightened global market uncertainty.
Indonesia saw the highest foreign capital outflows in the Asean region at about US$2.4 billion on a YTD basis after the US dollar rose, as yields on US treasuries moved higher on rising inflation expectation in the US.
Jittery investors with concerns on global economic growth moved to adopt a risk- off mode and scaled down their exposure to emerging markets (EMs) like Indonesia.
Under Winarta’s lead, Carlyle’s team in Southeast Asia now consists of eight professionals focused on investment opportunities in Indonesia, Vietnam and the Philippines, as well as other markets selectively.
Greg Zeluck, Managing Director and Co-Head, Buyout Team Carlyle Asia, said, “We are delighted that two senior veterans with industry experience and deep local investment market insights can join us as we expand our business in Southeast Asia,” said Zeluck.
Carlyle was established in Asia in 1998 and now has nine offices. From 1998 to March 31, 2018, Carlyle’s private equity platform in Asia has invested more than US$15 billion dollars, and currently manages assets of US$16.3 billion.
Carlyle invests across four segments – Corporate Private Equity, Real Assets, Global Credit and Investment Solutions – in Africa, Asia, Australia, Europe, the Middle East, North America and South America. Carlyle has expertise in various industries, including: aerospace, defense & government services, consumer & retail, energy, financial services, healthcare, industrial, real estate, technology & business services, telecommunications & media and transportation.