Creador to raise $450M in third PE fund

South- and Southeast Asia-focused private equity firm Creador has floated a new fund to raise $450 million (Rs 2,986 crore) in its third outing, as per a filing with US Securities Exchange Commission few weeks ago.

This comes less than a year after it topped its second fund with $30 million to take its corpus to $330 million. The fund was targeting to raise $250 million initially in this second fund. Besides fund of funds Hamilton Lane, it also added Siguler Guff & Company as an LP for the top-up.

The firm’s first fund was raised in 2011 with a corpus of $135 million.

The new fund would take the firm’s total assets under management (AUM) to close to $1 billion.

Founded in 2011 by Brahmal Vasudevan (CEO), former general partner and managing director of ChrysCapital, early this year, Creador completed its debut exit from an Indian portfolio firm by selling its entire stake in housing finance company Repco Home Finance Ltd in just about two years.

An email query sent to Creador on the investment strategy for the new fund went unanswered.

Some of its other investments include Ashiana Housing, Cholamandalam Investment and Finance Company, PC Jeweller, Somany Ceramics and Vectus Industries.

Apart from India, Creador has presence in countries including Indonesia, Malaysia, Singapore. Some of its significant portfolio firms outside India include Indonesia’s cereal and snacks manufacturer Simba Indosnack Makmur and multi-finance company BFI Finance , Malaysian fashion brand Bonia Group, Southeast Asian payment solutions provider GHL Systems Berhad and Indonesian private commercial bank Bank Index Selindo.

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