Navis eyes $183m Malaysia-focused fund
Navis Capital Partners is seeking to raise up to MYR750 million ($183 million) for its second Malaysia-dedicated fund.
The fund, Malaysia Growth Opportunities Fund II (MGO II), is looking to raise between MYR600-750 million, according to people familiar with the situation.
The latest vehicle is a successor to MGO I, which was closed at MYR303 million in 2012, AVCJ Research records show. The debut vehicle was set up under Malaysian government-backed Ekuinas Nasional's GP outsourced program.
The previous fund has made at least five investments in Malaysia, including baby-care product retailer Kinderdijk Group, private tertiary education provider SEG International, cinemas operator BIG Cinemas, IT services provider Strateq Group and power company HG Power Transmission.
The Malaysia-headquartered private equity firm is currently investing from its main fund, Navis Asian Fund VII, which was closed at the hard cap of $1.5 billion alongside a Shariah-compliant parallel vehicle in 2014. The fund focuses on mid-market buyouts in Southeast Asia excluding India.
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