CVC Asia Pacific, a pan-Asian buyout firm, has opened an office in Singapore to increase its focus on Southeast Asia, a region that has largely been eclipsed by China and India.
Roy Kuan, a partner at CVC, said “Southeast Asia has developed into an attractive market for management buyouts and CVC wants to ensure that it is close to this exciting market.”
CVC has also appointed Sigit Prasetya as director and head of the new office. Prasetya was previously a senior principal at Henderson Equity Partners, where he was primarily responsible for investments in Southeast Asia. Before joining Henderson in the middle of 2006, he spent seven years as head of Morgan Stanley’s Indonesian investment banking business. He started his career as a management consultant at Booz Allen Hamilton.
In March, CVC agreed to buy Malaysia’s Genting Sanyen’s paper and packaging business for RM 745 million ($216 million). The transaction is CVC’s first in Malaysia. CVC has previously acquired two businesses in Singapore – the Yellow Pages and Tech Pacific.