CVC Asia Pacific has opened a Singapore office headed by Sigit Prasetya, previously with Henderson Equity Partners.
CVC Asia Pacific has opened a Singapore office headed by Sigit Prasetya, previously with Henderson Equity Partners.
CVC Capital Partners manages over USD24 billion in funds focused on management buyouts and has been one of the most active private equity investors in the Asia Pacific region, with 24 management buy-outs completed in South East Asia, Greater China, Korea, Australia and Japan.
CVA stated that the Singapore office will enable the firm to more effectively target and invest in companies in South East Asia and further demonstrate its commitment to the region.
Sigit Prasetya recently joined the firm as Director and is now head of the Singapore office. Prasetya joined from Henderson Equity Partners where he led its activities in South East Asia. Previously, he spent seven years with Morgan Stanley, where he was most recently head of its investment banking business in Indonesia. Prior to that, Prasetya worked as a management consultant at Booz Allen Hamilton.
Roy Kuan, Partner at CVC, said: ‘Southeast Asia has developed into an attractive market for management buyouts and CVC wants to ensure that it is close to this exciting market.’
In 2006, CVC announced six transactions in the Asia Pacific region, with a total enterprise value of over USD10.3 billion, including PBL Media and DCA in Australia, Skylark Restaurant, Minit Asia Pacific and Shinwa Co in Japan, and PTP in China. On 16 March 2007, CVC announced an agreement to buy Genting Sanyen (Malaysia) Sdn Bhd’s paper and packaging business in Malaysia for MYR745 million. This is one of the first and largest MBO in the country.
CVC has also previously acquired two businesses based in Singapore – the Yellow Pages and Tech Pacific.
