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Creador confirms $105m first close for second fundraise

27 Aug 2013

Brahmal Vasudevan Creador - AltAssets Private Equity NewsSoutheast Asia-focused private equity firm Creador has hit an anticipated $105m first close for its second fund just three months after officially launching the vehicle.

The fundraise puts Creador almost halfway to Fund II’s $250m target, and means the firm is close to outstripping the $130m it gathered for its debut vehicle.

At the time of the launch in May, Creador CEO Brahmal Vasudevan said existing investors were willing to commit $100m to the new vehicle and there was interest for a further $50m to $75m.

Creador I gained its first partial exit in April by selling almost half of its 10 per cent stake in Malaysian restaurant chain and instant coffee brand OldTown White Coffee for around $15m, generating a two-times money multiple and 101 per cent IRR.

Creador was launched in 2011 by Vasudevan, pictured, following more than a decade as a general partner and managing director of India focused growth investor ChrysCapital.

Fimeris is acting as the global placement agent for Creador.

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