NEWS
Squadron Capital in new US$150 million fund
26 May 2011
Category:
News, Asia, Global
Squadron Capital has set up Keva Squadron Emerging Asia Fund 1, a US$150 million new programme aimed at investing in small to mid-cap PE funds in China, India and Southeast Asia. Funding was sourced from Keva, a Finnish government agency. Squadron Capital’s executives also provided part of the funding for the new vehicle although no details were provided in the press release. Squadron Capital, led by industry veteran David Pierce, is a fund-of-fund firm based in Hong Kong and is an affiliate of Search Investment Group.
Keva, based in Helsinki, is an independent public entity, responsible for providing and financing employment pensions for local government officeholders and employees. The firm’s member organizations include all Finnish cities, municipalities, and joint municipal boards. At the end of 2010, Keva’s assets under management were more than US$38 billion.
Tapio Olhava, portfolio manager at Keva, commented: “This mandate was awarded to Squadron Capital after an extensive due diligence process, involving discussions with leading fund-of-fund managers in Asia. We believe the new fund, tailored to our specifications, will enable Keva to leverage Squadron’s on-the-ground resources to construct a portfolio of superior private equity investment funds active in the fastest growing parts of Asia.”
Mr. Pierce commented: “We are delighted to assist Keva as it develops its program of alternative investments in the Asia-Pacific region. This new program is another example of Squadron Capital’s ability to assist large, sophisticated investors as they seek to understand and access opportunities to invest in the region’s diverse and dynamic private markets.”
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