CapAsia acquired by US hedge fund
Singapore-based private equity infrastructure investor CapAsia has been acquired by The Rohatyn Group (TRG), a US-based hedge fund focused on emerging markets.
TRG now holds a 60% stake in CapAsia, having bought the shareholding from CIMB, Malaysia's second-largest bank. CIMB and Standard Bank of South Africa established the firm in 2006, but Standard Bank sold its interest to its co-founder in 2011. CIMB thus retains a 40% stake.
"By combining TRG's standing in alternative asset management, CIMB's unparalleled presence in our core markets and our deep expertise and distinct approach to infrastructure investment management, CapAsia has further strengthened the foundations for sustainable expansion and excellence in delivering value to its investors," said CapAsia CEO Johan Bastin.
CapAsia, which invests in Asia excluding India and China, employs around 18 investment professionals in its offices in Singapore, Kuala Lumpur, Jakarta, and Bangkok. As part of the transaction, TRG acquire 60% of the GP interest in CapAsia's three infrastructure investment funds.
This deal comes after TRG acquired 50% of Hong Kong-based real estate investor ARCH Capital from the Ayala Group of the Philippines last year.
One of CapAsia's most recent transactions, meanwhile, was a $50 million investment into Central Asian Power and Energy Company, a Kazakhstan-headquartered power business, last April.
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