General Atlantic Appoints Enrique L. Castillo, Javier Molinar and Luis F. Cervantes as Special Advisors in Mexico
GREENWICH, Conn. and SAO PAULO, Brazil, Feb. 5, 2013 /PRNewswire/ -- General Atlantic LLC ("GA"), a leading global growth equity firm, today announced that it has appointed Enrique L. Castillo, Javier Molinar and Luis F. Cervantes as Special Advisors. Mr. Castillo, Mr. Molinar and Mr. Cervantes will work with GA's Latin America team to help identify business opportunities in Mexico.
With approximately US$ 17 billion in capital under management, GA invests in and provides strategic support for growth companies around the world. In Latin America, GA has invested over US$ 1.5 billion in companies including Sura Asset Management, BM&FBOVESPA, Decolar.com, Aceco TI, MercadoLibre and Linx.
"We are pleased to welcome Enrique, Javier and Luis to our global team of advisors to help us evaluate investment opportunities in Mexico," said William Ford, CEO of General Atlantic. "Their expertise will be very helpful to our team and is in keeping with our philosophy of building local expertise to help companies grow globally."
Martin Escobari, Managing Director and Head of GA's Latin America investing program, added, "We are already active in Mexico through many of our portfolio companies which have local operations. As Mexico enters a new phase of rapid reforms and economic growth, we look forward to partnering with Mexican entrepreneurs to fund and support the expansion plans of their companies."
Enrique L. Castillo is former Chairman and CEO of Ixe Grupo Financiero, which merged in 2010 with Grupo Financiero Banorte. He currently acts as a board member of Banorte. In addition, Mr. Castillo is the former head of the Mexican Bankers Association and member of the board of Grupo Casa Saba, Medica Sur, Grupo Aeroportuario del Pacifico, Grupo Herdez, Grupo Alfa, Cultiva and Southern Copper Corporation. Mr. Castillo recently co-founded Ventura, a private investment vehicle with Mr. Molinar.
Javier Molinar, co-founder with Mr. Castillo of Ventura, was the CEO of Ixe Grupo Financiero prior to the merger with Grupo Financiero Banorte in 2010. He currently serves as independent member of the board of Grupo Gigante, where he is a member of the Finance and Planning and Strategic Advisory Committees.
Luis F. Cervantes is the co-founder and Chairman of Finaccess Mexico, an asset management firm with operations in Mexico and the US. Prior to Finaccess, Mr. Cervantes was CEO of Multivalores Grupo Financiero. He also spent six years as Senior Vice-President of Citibank Mexico. In addition, Mr. Cervantes is a board member of Finaccess Mexico, Prologis Fondo Logistico Mexico (CK'd) and Colegio de San Ildefonso and a former board member of Comercial Mexicana, Mexican Bankers Association, Multivalores Grupo Financiero and Universidad Iberoamericana.
About General Atlantic
GENERAL ATLANTIC is a leading global growth equity firm providing capital and strategic support for growth companies. GA combines a collaborative global approach, sector specific expertise, long-term investment horizon and a deep understanding of growth drivers to partner with great management and build exceptional businesses worldwide. Established in 1980, GA manages approximately $17 billion in capital and has more than 80 investment professionals based in Greenwich, Connecticut, New York, and Palo Alto in the US; and with global offices in Sao Paulo, London, Munich, Hong Kong, Beijing, Singapore and Mumbai.
For further information and a listing of GA's public and private portfolio companies, see www.generalatlantic.com.
SOURCE General Atlantic
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