Navis, Ekuiti looks to sell Alliance Cosmetic Group

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silkyThe private equity owners of Alliance Cosmetic Group are reportedly looking to exit the Malaysian group.

Alliance’s owners Navis Capital Partners and Malaysian-backed private equity fund Ekuiti Nasional have hired Rothschild to help sell the company, said Bloomberg, citing people with knowledge of the matter. The company has drawn interest from its sector peers as well as private equity firms.

Ekuiti bought a 20 per cent stake in Alliance for $12.5m in 2010, while Navis made a $37.5m investment.

Last month AltAssets reported that Navis had raised $1.4bn for its seventh Asia fund and was looking to close the vehicle on its $1.5bn hard cap in December.

The fund eclipsed its initial $1.3bn target in February, also exceeding the size of Navis’ sixth fund which was closed on $1.2bn in 2010.

The Kuala Lumpur-based firm is expected to continue investing in Southeast Asia and shy away from Indian companies.

Copyright © 2014 AltAssets

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