Collyer seeks $100m for Southeast Asia fund-of-funds

The firm has secured an anchor LP commitment from a Europe-based asset manager that already has some exposure to the region. Most of the remaining capital is expected to come from family offices, high net worth individuals, and small institutional investors. Europe, the Middle East, and Asia are the key target markets for fundraising.

“The product is designed for investors that may not be willing to base themselves here but are curious about Southeast Asia and don’t necessarily want a pan-Asia fund-of-funds. It could be argued that diversification through a fund-of-funds is less justified in developed Asia and more justified in Southeast Asia, where it can solve issues like geographic risk and foreign exchange,” Marchand said.

Marchand (pictured) left his role at Campbell Lutyens earlier this year. He joined the firm in 2020 after an eight-year stint at fund-of-funds Unigestion, latterly as head of Asia Pacific private equity based in Singapore. Prior experience includes British International Investment and GE Capital.

He is one of four co-founders. The others are Juan Figar, Mahir Hamid, and Zaen Hamid. Figar has extensive operational experience, most recently as a director at Asaya, which helps international companies expand in Asia Pacific. Mahir Hamid previously worked for Actis in Singapore, while Zaen Hamid ran Asia for Mercantile & Maritime Group, an independent energy and commodities trader.

Collyer’s debut fund-of-funds is expected to focus on managers pursuing middle-market growth and buyout deals, with some late-stage venture exposure. There will be an up to 20% allocation for special situations, including co-investment, opportunistic secondaries, and private debt. The goal is to offer LPs additional co-investments outside of the fund.

“We want to get as close to USD 100m as we can and generate sufficient co-investment deal flow to be relevant to clients and give them opportunities to invest in good deals at preferred economics. We hope to attract some capital from family offices in the region by doing this,” said Marchand.

“We would like to get to a position where we can raise a foundational fund-of-funds of USD 150m-USD 200m every few years and build a small to mid-size asset manager with strong exposure to Southeast Asia. The region needs this.”

From a GP perspective, Collyer believes its Southeast Asia focus is a point of differentiation. Marchand noted that relatively few LPs – and chiefly only development finance institutions (DFIs) – are mandated to allocate to the region as opposed to broader Asia. This translates into greater certainty regarding commitments, and ultimately, an element of validation for managers.

The firm may address other markets in Asia Pacific on a more bespoke basis, depending on LP demand.

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• Topics
• Southeast Asia
• Fund-of-funds
• Fundraising
• LPs
• Singapore
• Collyer Capital