Asian private equity fund invests S$65m in crane company


Asian boutique private equity fund AIF Capital Asia III Shipping & Logistics has invested S$65m ($45m) in Tat Hong Holdings, one of the world’s largest crane companies.

Roland Ng, president and group CEO of Tat Hong, said, “AIF Captial is a well-regarded independent private equity firm in the region with a focus on companies riding the wave of Asia’s growing domestic consumption and the growth of the middle class.

“We are truly delighted to welcome AIF as a strategic investor to participate in the group’s future growth.”

Ng continued that having secured a strong foothold in its two key markets, Australia and China, Tat Hong was looking to further expand its presence within these areas.

The 65 million convertible redeemable preference shares issued in the deal represent approximately 11.4 per cent of Tat Hong’s enlarged and issued paid-up capital.

Tat Hong said the issuance of preference shares would have increased net tangible asset per share of the company to S$0.72 ($0.50) at the end of March this year.

AIF is a pan-Asian private equity fund that focuses primarily on the expansion, buy-out or recapitalilsation of both listed and unlisted companies. It has offices in Hong Kong, Beijing, China and New Delhi.

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