<article>Singapore-based private equity firm <a href="https://www.dealstreetasia.com/?s=Triple+P+Capital">Triple P Capital</a> is on track to secure a final close for its $120-million Southeast Asia financial inclusion fund in early-2019, co-founder and partner David Steel told DEALSTREETASIA.</article>

Singapore-based private equity firm <a href="https://www.dealstreetasia.com/?s=Triple+P+Capital">Triple P Capital</a> is on track to secure a final close for its $120-million Southeast Asia financial inclusion fund in early-2019, co-founder and partner David Steel told DEALSTREETASIA.
Triple P Capital was founded in 2014 by former AIG and Chandler Corporation executive Alexander Krefft, TPG and Samsung alum Allan Pedersen and former LeapFrog and AIG executive, David Steel. It claims to be the first focused impact private equity fund dedicated to Southeast Asia.
The PE firm launched the Triple P SEA Financial Inclusion Fund in 2017 to invest in insurance firms and non-bank financial services companies (NBFCs) in Indonesia, the Philippines, Vietnam, Thailand and Cambodia.
The fund, which targets bringing 20 million emerging consumers into the formal financial sector, announced its first close at $51 million in November 2017.
It garnered about $13 million in capital commitments from German development finance institution DEG and €6.64 million (around $7.5 million) from the Belgian Investment Company for Developing Countries (BIO), according to separate disclosures made by the two investors. Other limited partners include LGT, Proparco and unnamed family offices and family-backed foundations. 
According to co-founder and partner Steel, Triple P is actively looking for Asian investors to diversify its LP base but securing them has been a challenge so far.
&#8220;There are some interesting pools of capital out here in Asia, but the comfort with blind pool private equity &#8211; where the manager makes the investment decisions &#8211; remains somewhat limited. We’ve spoken to a lot of Asian investors and hopefully, we’ll get some, but it&#8217;s a hard fight,&#8221; said Steel. 
On Wednesday, Triple P announced it was investing <a href="https://www.dealstreetasia.com/stories/sg-praxis-triplep-capital-111901/">$3 million in The Praxis Company</a>, a Singapore-based educational gameplay firm.
Steel shared that five more companies will join its portfolio by early-2019. The fund will target a total of 8 to 10 companies in all, with ticket sizes ranging between $3 million and $15 million.
Also Read:
<a style="color: #ff0000;" href="https://www.dealstreetasia.com/stories/sg-praxis-triplep-capital-111901/">SG gamification startup The Praxis Company raises $3m from Triple P Capital</a>

The private equity firm launched its inaugural fund in 2017 to invest in insurance firms and non-bank financial services companies in Indonesia, the Philippines, Vietnam, Thailand and Cambodia. 

Triple P Capital to close $120m Southeast Asia fund by early 2019

Bring stories like this into your inbox every day.

Sign up for our newsletter - The Daily Brief

Triple P Capital to close $120m Southeast Asia fund by early 2019

Start your deal-making journey now!

Bring stories like this into your inbox every day.

Sign up for our newsletter - The Daily Brief