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General Atlantic Increases Strategic Focus on the Middle East with Appointment of Samir Assaf as Chairman of MENA
NEW YORK, February 27, 2023-- General Atlantic, a leading global growth equity firm, announced today that it has appointed Senior Advisor Samir Assaf as Chairman of the Middle East and North Africa (MENA), a newly created role, as the firm deepens its strategic focus on the Middle East.
In this new role, Mr. Assaf will work with the General Atlantic team to identify investment opportunities and build relationships in the MENA region as the firm seeks to expand its global footprint. General Atlantic has been investing in the Middle East since 2015, deploying more than $400 million to date across its investments, including Property Finder, an online real estate platform headquartered in Dubai, and Network International, a payments solutions provider.
“The MENA region is dynamic, with vibrant entrepreneurial activity in many of our sector areas of focus,” commented Bill Ford, Chairman and CEO of General Atlantic. “Samir has brought value to our teams and our portfolio, and we look forward to drawing upon his extensive experience and network across the Middle East as we seek to deepen our engagement with entrepreneurs and strategic partners.”
Mr. Assaf joined the firm in 2021 as a Senior Advisor to advise on a range of areas, including sourcing, building relationships with entrepreneurs and supporting portfolio companies. He has more than three decades of financial services experience and previously served in a number of key leadership roles at HSBC over his 27-year tenure with the bank. Mr. Assaf continues to support HSBC and its businesses via his role as an advisor to the Group Chairman and Group CEO and as Non-Executive Chairman of the Boards of HSBC Bank Middle East Limited and HSBC Middle East Holdings BV. He also serves as a member of the Advisory Board for BeyondNetZero, General Atlantic’s climate venture.
“I am honored to help drive the expansion of General Atlantic across the Middle East,” Mr. Assaf said. “I look forward to leveraging the firm’s more than four decades of investing experience and global platform as we work to create significant value across the region – with the mission of supporting innovative growth companies based in entrepreneurial hubs like Riyadh, Abu Dhabi, Dubai and Doha to helping our global portfolio companies expand and engage in MENA, to partnering with the many dynamic organizations and investors in the region.”
“General Atlantic has a longstanding track record as a global investor that takes an active role in rapidly evolving markets. The Middle East is a region we’ve been excited about and had conviction in for many years,” added Gabriel Caillaux, Co-President and Head of EMEA at General Atlantic. “We’re very pleased to deepen our commitment to MENA in the years ahead.”
About General Atlantic
General Atlantic is a leading global growth equity firm with more than four decades of experience providing capital and strategic support for over 495 growth companies throughout its history. Established in 1980 to partner with visionary entrepreneurs and deliver lasting impact, the firm 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 scale innovative businesses around the world. General Atlantic has over $72.6 billion in assets under management inclusive of all products as of September 30, 2022, and more than 220 investment professionals based in New York, Amsterdam, Beijing, Hong Kong, Jakarta, London, Mexico City, Miami, Mumbai, Munich, San Francisco, São Paulo, Shanghai, Singapore, Stamford and Tel Aviv. For more information on General Atlantic, please visit: www.generalatlantic.com.
Mary Armstrong & Jake Barnette