Kuala Lumpur-based private equity firm Navis Capital has launched its seventh Asia-focused fund, which is seeking $1.3bn.
The fund will focus on Southeast Asia excluding India according to PEI.
In July Bloomberg said Navis planned to launch an Asia-focused fund with a $1.3bn target and a $1.5bn hard cap.
The new vehicle follows the firm’s sixth fund, which was closed with commitments of $1.2bn in September 2010, three years after Navis raised $1bn for its fifth fund.
Navis is focused on buyouts, recapitalisations and financial restructurings in Asia. It has invested in the food processing, dining, industrial products, consumer goods, advertising, auto rentals and professional services sectors.
Earlier this year Navis bought a stake of over 50 per cent in Malaysian transmission services group HG Power Transmissions.
Copyright © 2013 AltAssets