Alun Branigan, the Singapore-based head of Actis’ Southeast Asian operations, will leave the emerging markets-focused private equity firm by the end of the year, to seek “further professional challenges”.
“I feel it is time for a change and with the end of the investment period for our ASEAN Fund, the Southeast Asia team now all located together in Singapore, our new $2.9 billion Actis Emerging Markets 3 fund successfully raised and the most testing times for the markets hopefully behind us, the timing seems appropriate,” he said in an emailed statement.
I feel it is time for a change
Gary Addison, head of Actis’ business services investments, will replace Branigan as head of the firm’s team in Southeast Asia, the email noted. Before joining Actis, Addison spent 13 years at UK-based private equity firm 3i. He was a partner in its mid-market buyout business and worked in the firm’s Tokyo office from 2001 to 2002.
In October, Actis held a final close on $750 million for Actis Infrastructure 2, falling short of its $1.25 billion target. The firm is currently investing out of Emerging Markets 3. Globally, Actis manages $4.8 billion, including $2.4 billion in Asia.