US-based PE investor Siguler Guff raises $240m for first emerging markets fund

Photo: REUTERS/Beawiharta

US-headquartered multi-strategy private equity firm Siguler Guff & Company announced that it has raised $240 million for GEMCo, its first direct investment emerging markets fund.

The fund seeks opportunities across high-growth, expansion-stage businesses with a primary focus on China, India, and Southeast Asia.

According to Siguler Guff, the new fund has already made a number of investments in the ecommerce, internet marketplaces, organised retail, consumer mobility, and enterprise software sectors.

The fund’s investor base includes public and corporate pension plans, insurance firms, sovereign wealth funds, endowments, foundations, and family offices in North America, Europe, Australia, Asia, and the Middle East.

“GEMCo, our first direct investment emerging markets fund, represents a strategic evolution and broadening of the firm’s emerging markets strategy,” said Drew Guff, founding partner of Siguler Guff.

Siguler Guff is a US-based PE firm with $15 billion of assets under management and 25 years of investment experience. It seeks to generate returns by focusing opportunistically on market niches.

Founded in 1991, the firm said its core investment strategies include small business, opportunities credit, distressed real estate, and emerging markets.

The company is headquartered in New York, with offices in Boston, London, Moscow, Mumbai, São Paulo, Shanghai, Tokyo, Seoul, Hong Kong, and Houston, Texas

In 2018, Siguler Guff invested an undisclosed amount in West Bengal-headquartered value retail chain Baazar Retail Ltd. The Indian startup was raising around $55-70 million then by selling a significant minority stake to PE investors.

“GEMCo allows us to not only capitalize on the higher growth trajectory and attractive valuations presented by emerging markets, but to play a substantial role in the premier transactions taking place within each region,” Shaun Khubchandani, managing director at the PE firm.

Publicly available data showed that Siguler raised $650 million in April 2014 for Siguler Guff & Company BRIC Opportunities Fund III and another $1.6 billion for Small Buyout Opportunities Fund IV in January 2020.

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.