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Singapore’s Indies raises US$100 million for third Asian fund

Bloomberg
·1-min read
SINGAPORE - MARCH 24: A general view of an empty attraction at a normally busy Jubilee Bridge and the Singapore skyline on March 24, 2020 in Singapore. Singapore will not allow short term visitors to enter or transit through the country from March 24 to contain the spread of the imported COVID-19 infection. (Photo by Suhaimi Abdullah/Getty Images)
A general view the Jubilee Bridge and the Singapore skyline on March 24, 2020.(PHOTO: Suhaimi Abdullah/Getty Images)

By Yoolim Lee

(Bloomberg) -- Indies Capital Partners, a Singapore-based alternative asset manager, has raised more than $US100 million at the first close of its third flagship fund for structured credit and private equity deals in Southeast Asia.

Pavilion Capital, a unit of Temasek Holdings Pte, became one of the anchor investors in the Indies Special Opportunities III fund, according to an emailed statement. The vehicle will look across Southeast Asia but focus particularly on Indonesia, it said.

“The post Covid-19 world will add a diverse set of opportunities for us across different parts of the economy, including in technology-enabled sectors,” Pandu Sjahrir, co-managing partner of the fund, said in the statement.

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Indies Capital is among investors looking to finance promising deals emerging from the coronavirus pandemic in the region. Founded in 2009, it has invested more than US$1 billion and manages more than US$550 million on behalf of institutional investors and private clients.

© 2020 Bloomberg L.P.