Bangkok--Nov 9--Weber Shandwick
Sponsors of the private equity fund Siam Investment Fund III (SIF III) announced the first closing of the fund at $24 million today. The Fund has a targeted size of $75-100 million and is focused exclusively on private equity transactions in Thailand. Returns are targeted at 25% p.a. Sponsors of the fund are Finansa Plc and Capital Z Investments, an affiliate of the Zurich Financial Services Group.
“This is the third private equity fund which we have raised for Thailand” said Gene Davis, a director at Finansa responsible for the Fund. “The first fund was raised before the crisis, investing through Thailand’s initial recovery phase. SIF II, which launched in1999, was an active investor in the restructuring process in Thailand between 1999 and 2004. SIF III will participate both in restructuring type investments as well as traditional growth opportunities in private equity. Our pipeline is full.”
SIF III is the successor fund to Siam Investment Fund II which invested $ 50 million into eight companies in Thailand over a five year period. That fund is fully invested. Among the investments in SIF II were:
Pranda Jewelry
The Evason Phuket Hotel
Loxbit
Santpharp Hua Peng
Sansiri
F & B Food Services
Siam Paper
INN/Connect
Investments by the first fund included strategic stakes in Nation Multimedia Group, SE-ED and TISCO.
Finansa plans to meet with institutional investors in Thailand and abroad in the coming months to introduce private equity as a separate asset class for investors in the Thai market.
Finansa is a Bangkok based merchant banking firm listed on the Stock Exchange of Thailand. Apart from its private equity business, companies within the group are active in investment banking, securities brokerage and research, mutual funds as well as insurance.
For further information, please contact:
Gene Davis
[email protected]
Vorasit Pokachaiyapat
[email protected]
James Marshall
[email protected]
Finansa plc
TISCO Tower 16/F
48 North Sathorn Road
Bangkok, Thailand 10550
(T) 662-697-3700
(F) 662-266-6688 End.