Ashwin Roy has joined the State General Reserve Fund of Oman as head of private equity, according to an email from the former Citi Venture Capital International partner.
Roy will focus on the sovereign wealth fund’s direct private equity programme. State General Reserve Fund, which is the largest fund manager in Oman, has $8.2 billion of assets under management, according to Private Equity International’s Research and Analytics division.
Roy, head of private equity
Roy joined CVCI Private Equity in 2001, prior to which he was a fund manager at Société Générale Asset Management. At CVCI, Roy focused on Central and Eastern European and Turkish investments. Shortly after Roy left the Citi unit on 2 August, The Rohatyn Group announced plans to acquire CVCI in an effort to expand its presence in emerging markets.
Rohatyn will take over CVCI’s $4.3 billion of investments in five funds. The deal is expected to close in the fourth quarter of 2013 and follows Citi’s effort to shed billions of alternative assets to comply with new regulations. CVCI was one of the bank’s last remaining in-house private equity divisions.
Prior to joining CVCI, Roy was a fund manager at Paris-based Société Générale Asset Management and was a member of PricewaterhouseCoopers’ audit and transaction support team in London, according to the CVCI website.