Creador gets returning LP for $600-mn fund to invest in South, Southeast Asia
The Asian Development Bank (ADB) said Wednesday it will make a $60-million equity investment in Creador V, a fund managed by private equity firm Creador to back companies in South and Southeast Asia.
This sets Creador on track for possibly again seeing oversubscription after its fourth fund collected close to $600 million in 2019, exceeding its own hard cap of $550 million.
The PE firm was co-founded by former ChrysCapital executive Brahmal Vasudevan, and invests across India and Southeast Asia. It floated its fifth fund last year with a target of scooping up around $600 million and had already garnered $500 million to make a first close last July.
The fifth fund will provide growth capital primarily to middle-market companies operating in business services, consumer goods and services, health care, pharmaceuticals, financial services, and manufacturing in India, Indonesia, Malaysia, the Philippines, and Vietnam.
Creador may also selectively consider investments to support businesses in Bangladesh, Singapore, Sri Lanka, and Thailand.
This is the ADB’s third investment in a Creador-managed fund, It had invested in Creador’s third fund in 2016 and the fourth vehicle in 2018.
Creador was established in 2011 and has since launched five private equity funds, totalling approximately $2 billion in committed capital as of December 2021. It employs 50 professionals across five offices in developing Asia.
The PE firm has deployed around a third of its capital each in Malaysia and India. The rest of Southeast Asia absorbed the remaining money.
Last year, it exited Corona Remedies with above-average returns through a secondary PE transaction with ChrysCapital. It also invested in quick-service restaurant chain operator Sapphire Foods in India last year.