PE firm Creador hits final close of Fund III, raises $415m

Creador founder and CEO Brahmal Vasudevan. September 2015.

Southeast Asia and India-focused private equity (PE) firm Creador has hit the first close for its Fund III at $415 million, falling a bit short of its initial target of $450 million.

The latest fund has attracted investors including endowments, pension funds, family offices, global Fund of Funds and a development bank, Edwin Cheah, Director, Creador, told this portal.

“The sectors that Creador III will focus on are consistent with Creador II,” Cheah added.

“The businesses that we are excited about are ones that sell from one to many, B2C businesses that are targeting a broad base of consumers. In particular, we look at three investment themes and do look at Financial Services (which include banks and finance companies) Consumer (which include branded products, media, retail, healthcare, education) and Business Services (which include B2B services, payment processing),” Cheah said.

The private equity firm, based out of Malaysia, Mauritius, India and Indonesia, has raised $130 million and $331 million previously.

In September last year, Brahmal Vasudevan, founder and chief executive officer of Creador had told DEALSTREETASIA that Creador has made the first close of its third fund at $250 million and was aiming to reach a final close a $450 million.

With this new fund the Malaysia-based company is planning to invest in newer markets like Philippines and Sri Lanka, apart from its existing target markets Indonesia and Malaysia in Southeast Asia, and India.

“We are exploring opportunities in Philippines and Sri Lanka and these new markets will be no more than 10% of the fund,” Vasudevan said. “We are still working on the deal opportunities in Indonesia and will disclose further details once able,” he added.

Its Malaysian portfolio includes data and analytical tools provider CTOS Holding Sdn Bhd, medical and allied health education provider Asiamet Education Group Berhad and retail pharmacy chain RedCap Pharmacy. In Indonesia, it has picked stake in the companies like financing firm BFI Finance, TV operator MNC Sky Vision and cereal player Simba Indosnack Makmur.

Creador is founded and headed by former ChrysCapital managing director Brahmal Vasudevan. On its global advisory board are other noteworthy former Malaysian corporate captains like Krishnan Tan and Dr Thillainathan Ramasamy, as well as former Indonesian finance minister Dr Ir Bambang Subianto.

Its India investments include Murugappa Group’s NBFC Cholamandalam Finance, Repco Home Finance, tile maker Somany Ceramics and PC Jewellers. It also has invested in Sky Vision, Indonesia’s largest pay TV operator and Malaysian restaurant chain, Old Town Coffee House.

Also Read:

Exclusive: Creador raises $250m for first close of Fund III, to seal two Indonesian deals in Oct

Creador to scout Malaysian deals with $250m over four years

Exclusive: PE firm Creador to back 3 companies by next quarter

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.