Southeast 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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