Return to search

Report: Former Thai PM Thaksin wants to establish $5bn fund

The Manchester City Football Club owner and former Thai premier intends to set up a private equity fund to invest in Asia.

Thaksin Shinawatra has said that he plans to establish a $5 billion (€3.2 billion) private equity fund if he is cleared of corruption charges and regains control of his assets that were frozen following the coup by the Thai military, according to news agency Reuters.
Thaksin was ousted in a military coup in September 2006 and subsequently faced charges of corruption and about $2 billion of his family assets were frozen.

He said will set up a private equity fund with his friends to invest in Asia. According to Thai daily The Nation Shinawatra said: “There's about 20 of us who are looking at this fund, and we'd invest about $250 million each.”

“It would invest in Asian stock exchanges and new companies, focussing on Asia, as that's where I know,” he added.

In July 2007, he bought Manchester City FC, an English football club, in a controversial takeover.

Shinawatra returned to Thailand in February 2008 to face graft charges after spending 17 months in exile.