Northstar plans $1b Southeast Asia investment fund

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NorthstarNorthstar Group, an Singapore-based private equity firm backed by US investment company TPG Capital, is seeking to raise around $1 billion in a new fund to invest in Southeast Asia’s fast-growing economies, Reuters reported.

Northstar, which was founded by former Goldman Sachs bankers Patrick Walujo and Glenn Sugitain ten years ago in Indonesia, is one of Southeast Asia’s home-grown buyout firms and is facing rising competition from global rivals like KKR & Co and Blackstone Group. Both KKR and Blackstone have moved teams into the region in 2012.

Northstar is betting its track record in the region will help it raise its biggest fund so far, more than the $820 million it raised last time, which was largely invested in Indonesia. While the majority of the new funds raised will be invested in Indonesia, Northstar hopes to invest more in markets outside the country.

Southeast Asia, home to about 600 million people, is seeing a rise in its consumer class as its economies advance. Recent successful exits by CVC Capital and TPG from their Southeast Asia investments are increasing private equity activity in the region.

CVC cashed in part of its 60 per cent stake in PT Matahari Department Store this year through a $1.3 billion share sale, while TPG agreed to sell a 40 per cent stake in Bank Tabungan Pensiunan Nasional. Those exits were a reminder to global private equity firms of the kind of money that can be made from investing in the region.

Northstar, along with TPG, is invested in BTPN and has also put money into Indonesian financial services companies PT Delta Dunia Makmur Tbk and PT Trimegah Securities Tbk. Northstar was also part of the $103 million management-led buyout of Singapore’s biggest property broker, ERA Singapore Pte Ltd.



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Northstar Group, an Singapore-based private equity firm backed by US investment company TPG Capital, is seeking to raise around $1 billion in a new fund to invest in Southeast Asia's fast-growing economies, Reuters reported. Northstar, which was founded by former Goldman Sachs bankers Patrick Walujo and Glenn Sugitain ten years ago in Indonesia, is one of Southeast Asia's home-grown buyout firms and is facing rising competition from global rivals like KKR & Co and Blackstone Group. Both KKR and Blackstone have moved teams into the region in 2012. Northstar is betting its track record in the region will help it...

NorthstarNorthstar Group, an Singapore-based private equity firm backed by US investment company TPG Capital, is seeking to raise around $1 billion in a new fund to invest in Southeast Asia’s fast-growing economies, Reuters reported.

Northstar, which was founded by former Goldman Sachs bankers Patrick Walujo and Glenn Sugitain ten years ago in Indonesia, is one of Southeast Asia’s home-grown buyout firms and is facing rising competition from global rivals like KKR & Co and Blackstone Group. Both KKR and Blackstone have moved teams into the region in 2012.

Northstar is betting its track record in the region will help it raise its biggest fund so far, more than the $820 million it raised last time, which was largely invested in Indonesia. While the majority of the new funds raised will be invested in Indonesia, Northstar hopes to invest more in markets outside the country.

Southeast Asia, home to about 600 million people, is seeing a rise in its consumer class as its economies advance. Recent successful exits by CVC Capital and TPG from their Southeast Asia investments are increasing private equity activity in the region.

CVC cashed in part of its 60 per cent stake in PT Matahari Department Store this year through a $1.3 billion share sale, while TPG agreed to sell a 40 per cent stake in Bank Tabungan Pensiunan Nasional. Those exits were a reminder to global private equity firms of the kind of money that can be made from investing in the region.

Northstar, along with TPG, is invested in BTPN and has also put money into Indonesian financial services companies PT Delta Dunia Makmur Tbk and PT Trimegah Securities Tbk. Northstar was also part of the $103 million management-led buyout of Singapore’s biggest property broker, ERA Singapore Pte Ltd.



Support ASEAN news

Investvine has been a consistent voice in ASEAN news for more than a decade. From breaking news to exclusive interviews with key ASEAN leaders, we have brought you factual and engaging reports – the stories that matter, free of charge.

Like many news organisations, we are striving to survive in an age of reduced advertising and biased journalism. Our mission is to rise above today’s challenges and chart tomorrow’s world with clear, dependable reporting.

Support us now with a donation of your choosing. Your contribution will help us shine a light on important ASEAN stories, reach more people and lift the manifold voices of this dynamic, influential region.

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Donation Total: $10.00

 

 

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