South and Southeast Asia-focused private equity firm Creador has floated a new internal strategy and operational consulting unit christened Creador+ with seven members, including an ex-partner and senior consultant from Boston Consulting Group as well as a former CEO.
The firm did not disclose the names of the key team members but said they are based in Kuala Lumpur and Jakarta, and will support Creador’s investments across Malaysia, Singapore, Indonesia and India.
Brahmal Vasudevan, founder and CEO of Creador, said Tan Ang Meng and Edwin Cheah Yew Hong are two of the seven-member team. The company is looking to expand its India operations too by appointing two-three professionals over the next three years.
Tan Ang Meng will be based out of Malaysia and has been appointed as senior advisor. He was CEO of Fraser & Neave Holdings Berhad until 2010 and has over 27 years of experiencing managing consumer related businesses in Southeast Asia.
Edwin Cheah Yew Hong, who had joined Creador in
2011, has been appointed as senior vice-president. He is based out of Indonesia and has over 14 years of experience in the technology, media and industries.
Creador+ will work with the management teams of its portfolio companies to conduct extensive analysis, ferret out insights into their businesses and develop strategies to further improve growth and profitability.
It is already actively involved in value add projects across several portfolio companies, including GHL and Bonia in Malaysia and Simba Indosnack Makmur in Indonesia.
Projects include regional expansion strategies, new business growth programmes, business unit level operational and profitability improvements and cost reduction programmes.
Creador currently has 10 investments across Indonesia, Malaysia and India and 21 investment professionals across these countries.
The firm is on the road to raise $250 million for its second fund of which it has already raised $200 million. It expects to invest -20 per cent of this amount in India while the rest is for Indonesia, Malaysia and Singapore.
In India, the firm has investments in Cholamandalam Investment & Finance Company Limited and Repco Home Finance Limited. Last year, the fund had picked up entire stake of Godrej Consumer Products in Indonesian snack food company PT Simba Indosnack Makmur. More recently it invested in tile manufacturer Somany Ceramics and is looking to make a new investment in the consumer space by June.
Creador+is on the similar lines of KKR Capstone, a unit of buyout giant KKR, which has a team of 60 senior leaders across North America, Europe and Asia.
PE firms are increasingly looking to hire operating partners to focus and work with the portfolio companies. This comes as value-add in addition to providing money and providing insights at the board level.
(Edited by Joby Puthuparampil Johnson)