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Fullerton raises $100m at first close for new Thai PE strategy

Fullerton Fund Management (Fullerton) has raised $100 million for its first Thai Private Equity strategy via KBank Private Banking.

Fullerton Fund Management (Fullerton) has raised $100 million for its first Thai Private Equity strategy via KBank Private Banking.

The strategy is now in the latter stages of its capital-raising phase, with initial deployments already made into underlying companies.

Fullerton has partnered with KBank Private Banking, Hatton Equity Partners, and Land and Houses Fund Management to launch the first-ever Thailand focused private equity strategy accessible to Thai investors in the form of a mutual fund. The strategy seeks to invest in eight to 12 mid-sized companies in Thailand. The fund manager and team would manage these portfolio companies to reach their target profitability goals and valuations. Eventually, the strategy seeks to secure returns through a sale of the portfolio company or an IPO.

The Fullerton Thai Private Equity strategy is targeting to deliver returns of two times multiple of invested capital (MOIC) and 20% gross internal rate of return (IRR) over the strategy’s life of seven years. The strategy offers investors the opportunity to invest in Thai family-owned businesses in transition, spin offs from conglomerates and corporations, plus Covid-resilient and Covid-recovery businesses. The strategy may target sectors such as consumer retail, food industries, industrial and advanced manufacturing, education, information and tech, healthcare and medical services, financial and business services.

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