Ex-banker targets $1b fundraise for Indonesia vehicle

The banker, Chad Holm, told Reuters that he would primarily focus on financial, resources, and infrastructure investment opportunities. He added that he had put up about $25 million of his own money, describing it as "the old-line merchant banking model. This is putting your money where your mouth is."

Indonesian businessman are also supporting the venture, which will offer corporate advisory services, in line with Holm's background in financial industry M&A.

Indonesia has emerged as a fundraising hotbed this year. Established players such as Saratoga Capital and Ancora Capital have vehicles in the pipeline as do a host of new entrants.

KV Asia, headed by Karam Butalia, former global head of Standard Chartered Private Equity, is targeting a $500 million Southeast Asia fund, while Falconhouse, started by a former Quvat executive, hopes to raise $300 million. Capsquare Asia Partners and Forte Capital are also currently believed to be fundraising. Fairways Capital and Mahanusa, a domestic investment bank, have predominantly been involved in advisory work but both plan on launching funds. The latter is already working with French investor Artémis Group.

Earlier this year, Northstar Pacific reached a final close of $820 million on its third fund. The private equity firm originally targeted $500 million for its third vehicle and set a hard cap of $750 million. Northstar's second fund, which closed in 2010, raised $285 million.

The private equity firm has also formalized its long-standing relationship with TPG Capital through a share-swap agreement - thought to be a first for the Asia region. The US buyout firm now owns 10% of Northstar, which has a less than 0.5% interest in TPG.

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• Topics
• Southeast Asia
• Fundraising
• Indonesia
• Fundraising
• Northstar Group
• Saratoga Capital Group
• Ancora Capital Management
• Capsquare Asia Partners