Lakeshore Capital holds final close of Fund II at USD150 million hard cap
Lakeshore Capital (Lakeshore), a Thailand and Greater Mekong area focused mid- market private equity firm has held the final closing of Lakeshore Capital II LP at its USD150m million hard cap.
The Fund was oversubscribed within 4 months of its official launch last year, finishing above its target fund size and more than double the size of its predecessor fund, Lakeshore Capital I LP. Notwithstanding various fundraising limitations due to the Covid-19 pandemic, Lakeshore Fund II saw strong support from a diversified group of both existing and new institutional investors, which includes a mix of pension funds, insurance companies, sovereign wealth funds, fund of funds, family offices and development finance institutions from the US, UK, Japan and South-East Asia.
Building on its reputation as a trusted advisor to leading small and medium-sized enterprises (SMEs) in the region, Lakeshore established Fund II to continue its successful investment strategy, which focuses on developing “hands-on” partnerships with Thai SMEs, and providing these companies with deep operational value-add and business transformation support at an inflection point in their growth trajectory. In line with its objective of delivering market leading returns to its investors, Lakeshore Capital I LP has consistently topped global and regional performance league tables in the growth category. Lakeshore will seek to build a well- diversified portfolio of industry champions which operate in fast-growing sectors of the regional economy, including business services, technology, consumer products and retail, healthcare, education, logistics, amongst others.
Asante Capital Group acted as exclusive global fundraising adviser, while Kirkland & Ellis acted as Lakeshore Fund II’s legal advisers.
“Lakeshore has demonstrated its ability to source and actively manage proprietary investments, and has built a diversified portfolio of leading businesses that are dominant within their respective markets, with a focus on strategic value creation and business transformation,” says Panaikorn Chartikavanij, co-Founder and Partner at Lakeshore Capital.
Anotai Adulbhan, also co-Founder and Partner, adds: “We are delighted by the strong support we continue to receive from regional and international institutional investors seeking exposure to attractive investment opportunities within a growing, increasingly integrated region in which Lakeshore has played a pioneering role in the development of the private equity asset class.”
About Lakeshore Capital: Lakeshore Capital is a Thailand-focused private equity firm dedicated to making growth and buyout investments in mid-market companies operating in the Greater Mekong region. Overall, Lakeshore believes there is an attractive opportunity for private equity investment in the underpenetrated Thai mid-market, and seeks to leverage the functional and operational skills as well as long-term experience of the Lakeshore investment team to assist portfolio companies in their strategic business development.