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Sarona commits $3.5m to Aureos' Southeast Asian fund

  • Anita Davis
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The Sarona Frontier Markets Fund I has committed $3.5 million to the Aureos South-East Asia Fund II, a $250 million vehicle targeting Southeast Asia’s small-to-mid-cap businesses.

According to Ontario-based Sarona Asset Management, the commitment will be used for healthcare, education, consumer finance, food and beverage, technical services and logistics investing in the region. Aureos' fund invests in Indonesia, Thailand, Malaysia, Philippines and Vietnam, while its parent, Aureos Capital, has the broader mandate to invest in emerging markets worldwide.

"We have witnessed and can feel the dynamism of each country throughout the region. We know that we will witness impressive financial results, while also seeing improved social, environmental and governance outcomes," Alex Hartzler, chairperson of Sarona, said in a statement.

The Aureos South-East Asia Fund II launched in late 2009 and was touted as the largest Southeast Asian investment vehicle. It commits $2-10 million per investment and is led by Hanjaya Limanto, Aureos' Managing Partner in Indonesia.

Aureos' preceding South-East Asia Fund is currently in exit mode. The firm additionally has a South Asia vehicle that targets investments in and around India.

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