Malaysia's Ekuinas launches fourth fund at $242m

Ekuinas launched its maiden fund in 2011 at MYR400 million. Its second fund amounted to MYR1.4 billion across two vehicles, and its third was established at MYR1.5 billion in 2014.

Fund IV was set up in part through the proceeds of its predecessors. Since the end of 2017, capital from divestments, dividends and interests related to these funds has totaled MYR2.3 billion. Funds under management now totals MYR4.1 billion. 

The new fund will maintain a geographic focus on Malaysia with a view to contributing to the country’s wider economic development by taking either majority or significant minority stakes in next-generation companies. Core sectors will include education, oil and gas, fast moving consumer goods, retail and leisure, healthcare, and services.

“The 2019 budget is seen to be facilitative and business-friendly, with a strong focus to spur the fourth industrial revolution,” Syed Yasir Arafat Syed Abd Kadir, CEO of Ekuinas, said in a statement. “The government’s effort to drive greater intra-ASEAN collaboration and trade also creates a dynamic, regional business environment, which will have positive impact on the local companies as well as the economy.”

Ekuinas has been one of the key drivers of Malaysia’s private equity industry since its establishment in 2009. Recent activity includes the acquisition of a controlling stake in electronics manufacturer Flexi Versa. Last year, the firm exited two education assets, including APIIT Education, which was sold in a management buyout backed by KV Asia Capital, and Tenby Education, which was acquired by International Schools Partnership.

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• Topics
• Southeast Asia
• Fundraising
• Growth
• Buyout
• Malaysia
• Ekuinas
• Education
• energy
• Consumer
• healthcare