Kuala Lumpur-headquartered private equity firm Creador‘s sixth fund has secured a $40-million equity commitment from Canadian development finance institution FinDev Canada, according to an announcement.
The commitment is for Creador VI LP, a private equity fund focused on the Indo-Pacific region. The fund was launched with a target to raise $750 million to $800 million.
FinDev Canada said its investment will enable the fund to support growth-oriented, mid-cap enterprises across key Indo-Pacific nations, including Malaysia, Indonesia, the Philippines, and India.
“As the world’s fastest-growing economic region, the Indo-Pacific allows us to deliver sustainable development, and Creador will be our first Fund to deliver on this mandate,” said Paulo Martelli, VP and chief investment officer at FinDev Canada.
FinDev Canada is Canada’s bilateral Development Finance Institution, supporting development through the private sector. It provides financing, investment, and blended finance solutions, as well as technical assistance and advisory in emerging markets and developing economies.
Creador, on the other hand, invests in the consumer, retail, financial services, healthcare, and business services sectors in India and Southeast Asia.
The latest fund has attracted investment from some of the world’s largest institutions, including the development finance community. It will target sectors such as consumer, retail, financial services, and business services.
In October, World Bank Group member International Finance Corporation (IFC) proposed to invest up to $50 million in the sixth flagship fund of Malaysian private equity firm Creador, according to a disclosure.
Creador V, which closed in December 2022, raised $700 million. Creador IV, which had a size of $580 million, was launched in 2019. The firm’s first three vehicles were closed at $130 million, $331 million, and $419 million, respectively.
Most recently, it invested $50 million in Hinduja Tech, a mobility-focused global engineering R&D services company in India. It has also invested 4 billion Philippine pesos ($71.3 million) in Asialink Finance Corporation, a lender to small and medium enterprises (SMEs).
Founded in 2011, Creador has raised over US$ 3 billion in assets under management across six funds.
In the Philippines, Creador announced plans to invest about $344 million over the next five years. Creador Philippines country head and managing director Omar Mahmoud earlier said the firm will look at ticket sizes between 2 billion pesos ($34 million) and 4 billion pesos ($68 million) in the country.
