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Bailey McCann, Opalesque New York: Fullerton Fund Management has reached a $100 million first close for its first Thai Private Equity strategy via KBank Private Banking. Fullerton is an Asian investment specialist firm backed by Temasek.
The strategy is now in the latter stages of its capital-raising phase, with initial deployments already made into underlying companies.
Fullerton has partnered with KBank Private Banking, Hatton Equity Partners, and Land and Houses Fund Management to launch the first-ever Thailand focused private equity strategy accessible to Thai investors in the form of a mutual fund. The strategy will invest in eight to 12 mid-sized companies in Thailand. The fund will have a seven year life cycle.
"The Thai investable market is deeply underserved by private equity relative to the economy's size. These companies are looking to alternative sources of funding like private equity in place of traditional bank loans as funding sources, especially in the wake of Covid-19," said Tan Huck Khim, Head of Alternatives, at Fullerton Fund Management."Thailand is an attractive market for private equity investing, as it is home to many family-run businesses that are experiencing leadership transitions to the next generation. This new generation is increasingly open to external influences that can add value."
Family-owned businesses in Thailand make up 75% of Thailand's stock exchange, according to PwC's 2019 Global Family Business Survey. These famil...................... To view our full article Click here
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