PE partnerships – A route into Indonesia
The recently announced TPG-North Star Pacific share swap got me thinking about collaboration between private equity firms. Global PE players have been using local funds to gain access to new markets for some time now, and quite a few have committed capital to indigenous Asian vehicles as a means of accessing deal flow from their local investee.
Unsurprisingly, China has generated the most interest. For example, 3i invested $45 million into CDH's third fund in 2005 with a view to gaining more insight into the local market. While I am not sure...
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