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Creador targets $350m for debut fund

Helmed by former ChrysCapital executive Brahmal Vasudevan, Creador has set its sights on Indonesia's consumer sector.

Brahmal Vasudevan, former senior managing director at India’s ChrysCapital Investment Advisors, is in talks to raise capital for a new private equity fund, he told Private Equity International.

Vasudevan left ChrysCapital to found Creador Capital earlier this year. He said the new fund will target private deals in India and Southeast Asia, and will have “more than half” of its resources allocated towards Indonesia’s consumer sector. He declined to elaborate on specific figures, but an industry source confirmed that his firm was targeting $350 million in commitments from LPs in Southeast Asia.

“Indonesia has similar demographics as India… ” Vasudevan said when asked about how his experience in India would translate in Indonesia. He added that beyond strong figures in consumption, there were also cultural similarities between the world’s most populous Muslim country and his home country of Malaysia such as language. He noted that Creador will not invest in the Indonesia’s commodities sector.

Leading the new business is a team of high profile executives including the former director of the Jakarta Stock Exchange, Cyril Noerhadi, Vasudevan said. Creador will initially have offices in Chennai, Kuala Lumpur and Jakarta.

Vasudevan joined ChrysCapital in August 2000 and was previously director of marketing at ASTRO, a multi-channel pay-per-view operator in Southeast Asia. He was also responsible for ASTRO's expansion into other Southeast Asian markets. Prior to that, Vasudevan was with British American Tobacco where he was the international marketing manager. He also worked at the Boston Consulting Group where he was involved with a number of projects advising senior management on key strategic issues.