Indonesia’s Saratoga Capital eyes mid-2013 for private equity IPO

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Indonesian investment firm Saratoga Capital is eyeing the middle of 2013 to list its private equity unit, according to local news sources.

An IPO on the Indonesia Stock Exchange (IDX) could raise as much as $200m, the reports said.

The firm’s palm oil investment subsidiary Provident Agro listed on the IDX in October of last year, floating 13.4 per cent of its capital.

According to Indonesia Today, the firm plans to invest $480m ahead of the listing and is looking at acquiring an unnamed consumer company within the next month.

The firm held a final closing in May 2012 on its third private equity vehicle, Saratoga Asia Fund III (SAF III), on $450m.

The firm was founded in 1998 by local businessmen Edwin Soeryadjaya and Sandiaga Uno. Its investments span natural resources, energy, infrastructure, telecommunication and consumer goods.

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