In a disclosure on Monday, IFC said that North Haven Thai PE, that is being managed by Morgan Stanley Private Equity Asia (MSPEA), is seeking to raise up to $300 million in total committed capital and IFC will not hold more than 20 per cent of the fund’s total commitments.
North Haven Thai PE is a newly-formed generalist private equity fund with an initial 10-year term, targeting mid-market companies with significant operations in Thailand.
The fund will be managed by Morgan Stanley Private Equity Asia Inc and jointly led by its co-heads: Eric Ma and Chong Toh.
In October last year, Morgan Stanley-backed North Haven Private Equity Asia Angel has made the first investment in Thailand by acquiring a 25.63-per-cent stake in Thailand’s listed baby-and-adult diaper maker DSG International (Thailand) Pcl for 1.61 billion baht ($47.5 million).
Kingsley Chan, managing director of Morgan Stanley Private Equity Asia, earlier said in the statement that it shall continue to look for new investment opportunities in Thailand where it is one of the most attractive markets with positive long-term potential.