Centurion to launch two private equity funds

The boutique Asian private equity firm intends to begin fundraising in the next two months for a China-focused RMB fund and an Asia-focused fund.

Centurion Investment Management will launch two private equity funds in the next two months.

Of the two funds, one will be a China-focused, RMB-denominated fund, Wong Kok Hoe, group chief operating officer of Centurion Group, the firm’s parent, said in an interview. The other fund will invest predominately in Southeast Asia and will also invest part of its capital in the RMB fund.

The firm is targeting commitments from mostly Asia-based high net worth individuals, family offices and corporates, and is not raising money from pension funds, he added. He declined to give target fundraising amounts, saying precise details are still under discussion.

Both funds will primarily invest in growth capital deals across all sectors. They will have an average deal size of between $5 million and $50 million.

Despite the current difficult fundraising environment, the firm is “driven by attractive potential investment opportunities in Asia, which its investors are keen to look at,” Wong said.

Centurion Investment Management previously invested via deal-specific funds. Its prior investments include Pine Agritech, a Shandong-based food and biotechnology business; China Hongxing Sports, a Fujian-based sportswear company; and Singapore-headquartered Unionmet, a mineral processing company.

The firm currently has seven investment professionals across offices in Singapore, Hong Kong and Shanghai. It intends to augment its team when the funds are launched, according to Wong.

Centurion Investment Management is part of the Centurion Group, a holding company owned by David Loh and Han Seng Juan, both of whom are well-known dealers at Singapore-based brokerage UOB Kay Hian.

Loh and Han recently said they will be retiring from the stockbroking business to focus their efforts on expanding the group’s investments, which include property development and investment.