In an announcement, Singapore-based Tower Capital Asia has reported of the first closing on its Southeast Asian private equity fund- Tower Capital PE Fund I raising around $250 million.
The fund is also on the lookout for potential successful companies in Singapore and whole of Southeast Asia from multiple sectors, such as healthcare, consumer, education, business, and manufacturing who can provide high organic growth rates. The Firm expects the first deal to close this quarter.
Tower Capital’s past agreements include privatization of medicine brand Eu Yan Sang in 2016 for S$269 million and privatization of logistics firm Poh Tiong Choon in 2017.
In a statement, Founder and Chief Executive Officer, Danny KOH expressed his gratitude to the investors for their support in the difficult phase of fundraising for general partners worldwide. Authenticity, purpose, and respect for human ties drive the Firm and will continue to as they grow, he added.
Talking about the long-term plans for the firm post-investment, Mr. Danny along with his panel of senior advisors will collaborate closely with sponsors in rejuvenating established business models and pushing value creation.