IREIFS expands SE Asia presence, targets Australasia and India
Paris-based private equity firm IREIFS Partners is to expand its Southeast Asian presence in response to increasing activity in the Asia Pacific region.
The firm, which re-opened its Bangkok office a year ago following a six-year absence brought on by political and economic tensions, says it is now upgrading its offices in Thailand and Singapore.
"Since mid 2012 the enquiry levels from India, Australia and New Zealand for PE have increased dramatically," said Pat Collins, IREIFS Group Managing Director in a statement. Rising interest is credited to circumstances that don't suit many listed funds, the tightening of bank lending in these markets, or a combination of both factors.
The firm added that the types of deals it has been approached to participate in recently were well within its investment parameters. IREIFS typically makes very low leveraged portfolio investments focusing on real estate: luxury hotels and resorts; luxury villas and residences; retail and shopping malls; and commercial offices and industrial holdings.
The firm is currently looking at real estate and venture capital deals in India, working with Ajcon Global Services for support in the country. In addition, it will invest in two resorts in New Zealand and explore the luxury residential resort market in Australia.
IREIFS claims to be in advanced negotiations that are likely to result in commitments of $250 million - half of its preliminary budget for the three countries.
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