Fundraising

CapAsia eyes fourth ASEAN infrastructure vehicle

The Singapore-based firm hopes to deploy the $100m remaining in its Fund III by the end of this year.

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CapAsia, a mid-market asset manager focused on Asian emerging markets, aims to launch a fourth infrastructure fund after deploying its latest vehicle's remaining dry powder by end of this year.

CapAsia ASEAN Infrastructure Fund III reached its final close on $100 million in March 2015. The firm has so far deployed 50 percent of the fund in various assets across Southeast Asia, one of which is PT Margautama Nusantara, a platform that owns four operating toll roads in Indonesia. Other investments includes solar and wind projects in the Philippines and Malaysia. 

Davarshi Das, co-chief executive of CapAsia, told Infrastructure Investor some the firm was close to sealing deals in Thailand, Vietnam and Indonesia. He declined to provide further information on pending transactions. 

Fund III focuses on transportation, energy and water utilities, renewables, telecommunications and social infrastructure across Southeast Asia. It targets operating assets with growth potential and derisked development projects.   

The fund is backed by Bank of Tokyo-Mitsubishi, the Japan Bank for International Cooperation, Thailand’s Bangkok Bank Public Company and German development institution DEG. 

CapAsia is majority-owned by The Rohatyn Group, a US-based private investment firm focused on emerging markets, with CIMB Group a significant minority shareholder.