By Ka Kay Lum
The PE firm said it has received commitments from investors in the US, Canada, Germany, UK, Japan, South Korea and Thailand.
New Zealand-based private investment company Direct Capital has completed the sale of its 13.75 per cent shareholding in Cavalier Wool Holdings.
This deal comes a month after the company acquired another local beauty salon chain Puzzle.
This marks a shift in strategy for PE investors who had so far largely bought minority stakes. PE buyouts this year are also double that of 2017’s buyout deals worth $2.7 billion.
This year, Blackstone has purchased stakes in technology-focused Francisco Partners, middle-market PE firm Kohlberg & Co., Asia-focused PAG and real estate specialist Rockpoint Group.
The company has also hired two officials, including one from private equity firm KKR and Co. Inc., to lead the structured debt business
The fund, which will also see the family office allocate capital for a co-investment pool, will focus on providing credit to the healthcare and education sectors in Southeast Asia and India.
Given the robust pipeline across the three markets, EMIA is also looking to increase the capital for its second fund.
Legend Holdings in July 2018 received all regulatory approvals to acquire 90 per cent stake in BIL in a deal pegged at $1.8 billion.
Besides leveraging the brand, the acquisition could also be part of True North’s larger strategy of acquiring more companies or brands in the consumer sector.