Ex-ChrysCapital exec’s Creador closes debut fund on $132m


Creador, the private equity firm launched by former ChrysCapital managing director Brahmal Vasudevan, has hit a $132m final close for its debut fund.

The commitments fall short of the $350m the firm had initially hoped to collect, highlighting the difficulties both new and repeat fundraisers are experiencing in the current economic climate.

Altassets revealed in November the firm was nearing a close for the vehicle, which it plans to use for investments in growth-oriented businesses in Indonesia, Malaysia and India.

Founder and CEO Vasudevan launched Creador in 2011 following more than a decade as a general partner and managing director of ChrysCapital, which concentrates on growth investments in India.

He was part of a senior leadership team that grew assets under management from $64m to $2bn during that time.

Creador’s Malaysia-based team also includes managing director Jeyabalan Parasingam, who founded SME-focused real estate fund CholaLand prior to joining the firm last year.

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