Singapore-based private equity firm Ikhlas Capital will close its inaugural fund in the middle of this year, reassessing its planned $500 million target due to the coronavirus outbreak, founding partner and chairman Nazir Razak said.
“All bets are off now,” Nazir told Reuters on Friday about the size of the fund’s final close. When the firm was being set up late 2017, the fund was reportedly looking to raise as much as $1 billion.
