Exclusive: Hamilton Lane boost takes Creador to $330m

The firm’s second vehicle extended its hard cap for the global fund of funds

Creador, an India- and Southeast Asia-focused private equity firm, has made a final close on $330 million having received a last minute commitment from fund of funds Hamilton Lane, people close to the situation revealed to Private Equity International.  

The fund, its second private equity offering, was targeting $250 million, but had a last-minute surge of LP interest so raised the cover to accommodate investors, intending to close on a hard cap of $300 million in August.

However, sources said the fund actually ended up closing on $330 million, with the “recent addition of significance” coming from Hamilton Lane.

Hamilton Lane continues to be upbeat on India, head of Asia Juan Delgado-Moreira, told delegates at PEI’s India Summit last week in Mumbai. The firm had its busiest year in India in 2013 and expects to invest in India funds actively going forward.

Investors in the Creador fund are about 25 percent from North America, 35 percent from Europe and the balance from Asia Pacific, attracting well-known institutions in the LP community such as Siguler Guff and Hermes GPE, as well as a Boston-based university endowment and a large Malaysian pension fund.

Since its $105 million first close in August last year, the firm has invested over $150 million across at least six investments – two each in Malaysia, Indonesia and India.

In August this year, Creador closed a $64 million buyout of Malaysian credit reporting business CTOS, taking a 70 percent interest in the company.

Creador, the private equity firm founded by Brahmal Vasudevan, former managing director at ChrysCapital, launched its first vehicle in 2011 and has since created an internal operating unit called Creador Plus.