Lakeshore Capital invests $4.5m in Thailand steakhouse chain

Santa Fe has around 66 branches, half of which are in Bangkok with the rest located in provincial cities around Thailand. Half the stores are self-operated and the other half franchised out.

"Despite weakness in domestic consumption in 2014, the company is rapidly growing its market presence in the Western food category in anticipation of a recovery in consumption in the medium and long term," said Lakeshore in a statement.

The PE firm was set up in 2009 by Thai nationals Anotai Adulbhan, Panaikorn Chartikavanij, and Supawat Likittanawong. Adulbhan and Chartikavanij previously worked at LEK Consulting, while Likittanawong was with Standard Chartered in Singapore.

The firm primarily targets growth capital investments and mid-market buyouts in Thailand but also looks for opportunities elsewhere in the Greater Mekong sub-region (Vietnam, Cambodia, Laos, and Myanmar).

This is understood to be GP's second investment from its maiden fund. Last year it acquired a 25% stake in Humanica, a human resources and payroll outsourcing service in Thailand.

Lakeshore Capital I is targeting $100 million. In May 2013, the vehicle reached $25 million first close with commitments from the International Finance Corporation (IFC) among others.

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• Topics
• Southeast Asia
• Consumer
• Expansion
• Investments
• Thailand
• Consumer
• Growth capital
• Lakeshore Capital Partners