Distressed assets deliver most attractive returns, say 9Basil co-founders

Distressed assets deliver most attractive returns, say 9Basil co-founders

Schwin Chiaravanont (left) and Dr. Kris Panijpan, co-founders and managing partners at 9Basil.

Thailand-based multi-family office Blueprint Forest is looking to tap assets that are not typically covered by private equity firms.

Blueprint Forest’s PE platform 9Basil made headlines earlier this month when it closed its maiden fund at $120 million, targeting businesses across Southeast Asia – with an emphasis on its home market. Besides, it is also scouting for opportunities in Indonesia, the Philippines and Myanmar.

Its portfolio companies in Thailand include financial services firm Alpha Capital Asset Management and micro-lending firm Ngern Tid Lor.

9Basil’s co-founders and managing partners Schwin Chiaravanont and Dr. Kris Panijpan told DealStreetAsia in an interaction that the firm plans to focus on investments in distressed assets, e-commerce support segments and crisis-resilient businesses.

The duo explicitly opines that distress is where they see higher returns – even in the wake of the current crisis.

9Basil does not define a sweet spot in terms of deal size. The investments it has made have so far been in the range of $30 million, while the smallest deal the firm is evaluating is $5 million. However, going forward, the deal size can even be higher if it ties up with co-investors.

Blueprint Forest manages capital for over 25 families from over nine countries, while 9Basil is powered by a number of established families across Southeast Asia.

Members of 9Basil’s Fund I advisory board include a slew of limited partners of the fund, such as Kachorn Chiaravanont, a member of the CP Group family, Petch Osathanugrah, a major shareholder in SET-listed FMCG producer Osotspa, and Prin Chirathivat, who is the deputy group CEO of Central Group.

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