Singapore-based Tower Capital Asia has held a first closing of its Southeast Asia-focused private equity fund, Tower Capital PE Fund , at approximately USD250 million.  

The fund’s first-closing investors include a pre-eminent international institutional investor and highly respected single family offices from the Southeast Asian region.

Danny Koh, Founder and Chief Executive Officer, says: “We are very grateful to our investors for their support, which remained unwavering through an unusually difficult fundraising year for general partners globally. The closing of the Fund marks many firsts for us, but our earliest days as a modest team spun out from a large global firm will never be too far behind us. Authenticity, purpose and a respect for human relationships have guided us to where we are, and we will continue to live by these values even as the Firm grows.”

The fund will invest into a portfolio of companies across a variety of sectors, including consumer, education, healthcare, manufacturing and business services, from Singapore and opportunistically the rest of Southeast Asia. Such companies will typically feature high organic growth rates, and possess the potential to become regional or even global market leaders in their respective spheres. The firm, together with its panel of deeply experienced senior advisors, seek to work closely with sponsors post-investment, rejuvenating established business models and driving value creation for the long term.

“Southeast Asia, led by Singapore, is establishing itself as a market for private equity deal-flow in recent years with the rapid creation and maturation of businesses. By investing early into building relationships with Southeast Asian business owners, Tower Capital Asia is well placed to capture buyout opportunities as they arise,” adds Koh.

The fund expects to close its first investment in the first quarter of 2021.

Source: Private Equity Wire