Asian private equity investment firms Capital Square Partners and Basil Technology have merged through a new $700 million continuation fund to form a new company, also known as Capital Square Partners, according to a report by Bloomberg.
The report cites Sanjay Chakrabarty, a partner at the new firm, as saying that the deal between the Singapore-based firms is the the first of its kind in the region.
UBS Private Funds Group advised on the transaction that was structured through a continuation fund, known as CSP Fund II, which currently holds five assets and includes $250 million of fresh capital that could be used for follow-on investments in the existing portfolio or to acquire new companies, according to Chakrabarty.
