Rasmala Investments in association with the directors of Navis Capital Partners and other investment bodies, are pleased to announce the final closing of Navis Fund IV, L.P. The Fund closed at its revised cap of US$315 million, of which over US$75 million has already been invested.
19 September 2005
Rasmala Investments, an Investment Company focused on Global Asset Management and Regional Investment Banking and Navis Capital Partners Limited, an investment firm, jointly with other investment companies proudly announce the final closing of Navis’ latest private equity fund, Navis Asia Fund IV, L.P. The fund, which reached its maximum subscription cap of US$315million in record time, focuses on mid-sized control buyouts in South and Southeast Asia.
Mr. Eric Swats, Partner and Chief Investment Officer at Rasmala Investments states “we are excited to have helped close the Navis Fund and are confident that it will bring additional great investment opportunities to our clients”.
Investors in the fund are almost all institutional and comprise pension plans/insurance groups (35%), funds of funds (19%), government funds and agencies (18%), family offices (14%) and other investors (14%). Investors are located, variously, in Europe (36%), Asia (29%), the U.S. (24%) and the Middle East (11%). Investors include, amongst others, Adams Street Partners, AlpInvest Partners, CIMB, Employees’ Provident Fund of Malaysia, INVESCO, Partners Group, Quilvest Capital, Sumitomo Corporation, Temasek, and Tokio Marine & Nichido Fire Insurance Co. Ltd.
A portion of the funds raised have been structured in a Shari’ah compliant parallel vehicle to meet the growing interest of Islamic institutions.
Mr. Nicholas Bloy, Director at Navis Capital Partners Limited adds “we are delighted that Rasmala Investments, amongst other investment companies, was so successful in distributing the new fund.”
Campbell Lutyens, the independent placement agent and specialist private equity adviser, acted as placement agent and financial adviser. Mr. John Campbell, Senior Partner of Campbell Lutyens, said “after many years of intermittent activity, a number of international investors have started to focus commitments of capital to Asia”.
Mr. Bloy adds “we have the support of a large and diversified investor group of extraordinary quality. We observe that our long-established strategy and record of focusing on control investing in South and Southeast Asia has struck a chord with investors.”
The management of Rasmala Investments, Navis’ Capital Partners along with other investment companies, who have participated in making the latest Navis Fund a success, continuously work hard on developing funds, like the Navis Fund IV, L.P., which will bring their clients’ investments forward.