Creador ups Fund II to $330m with additional commitment

The new contribution came from fund-of-funds Hamilton Lane, according to a source familiar with the situation. Creador announced in August that it would hold a final close at its original $300 million hard cap.

The fund launched in May last year with a target of $250 million and reached a first close of $105 million three months later.

Other LPs include Siguler Guff, which picked Creador II as the first non-BRIC allocation in Asia from its emerging markets-focused BRIC Opportunities Fund III. A Malaysian pension fund is also said to feature among the LPs, while three other fund-of-funds came in towards the end.

"October 19 marked the actual final close of Fund II and we have already deployed half the fund, with six investments made," Brahmal Vasudevan (pictured), CEO and founder of Creador told AVCJ. The most recent of these was Vectus Industries, an Indian manufacturer of plastic water tanks and pipes, in which Creador acquired a monirity stake for INR1 billion ($16.7 million) in June.

Fund II launched just four months after Creador reached a final close of $130 million on its debut vehicle. The narrow timeframe was due to Fund I coming under target: the private equity firm felt it could invest $80 million and, working with a smaller-than-expected pool of capital, it burned through the dry powder reasonably quickly.

Seven investments were made out of Fund I and there has now been two partial exits - from Malaysian restaurant chain and instant coffee brand Old Town White Coffee and last week from Repco Home Finance.

Earlier this year the GP established Creador+, a dedicated operations team made up of ex-Boston Consulting Group executives. It is based out of Kuala Lumpur.

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• Topics
• South Asia
• Southeast Asia
• Fundraising
• Fundraising
• Creador
• Malaysia
• India
• Southeast Asia