CLSA Capital Partners to close $300m fund

CLSA Capital Partners, the reorganized private equity business arm of CLSA Asia Pacific Markets, is poised to close a growth capital fund on $300m.

Hong Kong-headquartered CLSA Capital Partners is due shortly to close its third ARIA investment fund on $300 million (€249 million), which will boost its total growth capital funds under management to $475 million.
CLSA Capital Partners, previously known as CLSA Private Equity Management, has emerged from a recent re-branding exercise prompted by “substantial fund raising in the past 12 months”, according to a company statement.

CLSA is also aiming to launch a shipping-related private equity fund this summer.
Founded in 1986, CLSA Asia Pacific Markets is an independent equity brokerage and investment bank in which France’s Credit Agricole, which merged in 2003 with Credit Lyonnais, is a major shareholder.

Prior to the reorganization, pan-Asian ARIA Funds I and II, totaling $175 million, were managed by CLSA Private Equity Management.

An investment from CLSA’s $100-million ARIA Fund II in Chinese food and catering business FU JI Food and Catering Services Holdings was exited at the start of March, reaping more than five times cash invested, according to CLSA. The investment was made in early 2004. Since then, FU JI’s revenues and net profit leapt more than 3 times, with end-2005 results showing turnover of $55 million, and a net profit of $20 million.