Creador nearing $450m first close for fourth fund – exclusive

The Kuala Lumpur-headquartered firm is seeking $500m for a South and South-East Asia focused fund.

Kuala Lumpur-headquartered mid-market firm Creador is set to hold a first close of $450 million for its fourth vehicle by July, Private Equity International has learned.

The firm launched Creador IV in February with a $500 million target, $50 million more than the target of its predecessor vehicle. A final close is expected by September, a source with knowledge of the fundraising told PEI. Creador is targeting a 25 percent per annum gross return for the fund, PEI understands.

Up to 10 percent of the new fund will be invested in Vietnam, a market that offers the same similarities as India and Indonesia, Brahmal Vasudevan, founder of Creador, told PEI in February.

Creador opened its office in Ho Chi Minh City – its fifth outpost in the region – earlier this month and hired Vinh Hanh Nguyen as executive director. She was previously head of origination for HSBC Vietnam.

The firm sealed its first deal in Vietnam in February, investing about $44 million to Mobile World, the country’s leading consumer electronics retailer that is also backed by the Vietnamese private equity firm Mekong Capital.

Creador manages about $800 million of assets, according to PEI data. Among investors in its previous funds are Hamilton Lane, Siguler Guff & Company, and Hermes GPE. Its investments span a range of industries across India, Indonesia, Malaysia, Philippines, Singapore, Sri Lanka and Vietnam.

The firm declined to comment on fundraising.