Media Prima Berhad, a media investment group in Malaysia, is establishing a private equity fund to invest in media assets across Southeast Asia and other Asian emerging markets.
The firm will be the anchor investor in the $100 million (€63.3 million) to $150 million fund. Other investors being targeted are financial institutions and strategic investors. Macquarie Capital Securities will assist in establishing the fund and is leading the fundraising drive.
Media Prima is looking to expand its operations regionally.
Explaining the firm’s investment strategy, Abdul Rahman Ahmad, group managing director and chief executive at Prima Media, said in a statement the firm’s investment would enable Media Prima “to minimise this impact to its earnings and balance sheet, share our risks with like minded investors while at the same time allows MPB to benefit from management fee in operating the media assets and participate in the future capital gains of the Media Fund.”
Ahmad Farid Ridzuan, the chief executive of Media Prima’s Television Networks, will assume the role of chief executive of the fund management company once it is formed.
The fund will make its first investment in the Philippines, where it will acquire Media Prima’s interest in Primedia.