9Basil Group, a value-focused alternative investment firm, has completed the final close of its second private equity fund, the company said on Monday.
Financial details of the corpus raised for the second fund remain undisclosed.
After distributing over $35.3 million this year, the firm’s assets under management have grown to over $300 million. Investors include high net-worth individuals, family offices, and institutional investors from Asia-Pacific and Europe.
9Basil closed its maiden fund at $120 million in 2020.
9Basil Private Equity invests in various industries in Southeast Asia, seeking businesses with strong protection and cash flow that need strategic capital. The firm said that it is flexible, willing to be either minority or majority owners, and allows management full decision-making autonomy with significant profit-sharing. It also partners for ownership or management succession, buyouts, or businesses that could benefit from its resources and network.
9Basil plans to enhance its support for portfolio companies by hiring new staff and acquiring strategic assets. It will also assist with private and public sector projects and capital markets. Portfolio company managers have full independence but can access additional support from 9Basil’s resources. It has 22 employees in its offices in Bangkok and Singapore.
9Basil aims to invest more in its funds alongside investors, building a larger permanent capital base with a diverse range of investors and partners. Their private equity strategy targets profitable Southeast Asian businesses with strong protections and capable management teams. Notable investments from their first fund include Ngern Tid Lor, Alpha Capital Partners Group, and Sourcefit.
“We are extremely grateful for the support from our Limited Partners in this highly volatile and challenging market. We aim for our investments to be meaningful and it is only with patient capital–and patient investors–that we can achieve that,” Kris Panijpan, co-founder and Managing Partner of 9Basil, said in a statement.
“For this Fund, we intend to continue to add value by developing proprietary insights and building bridges for our portfolio companies. We will advance our capabilities so that we can become an ever-growing resource for our managers and investors,” Panijpan added.
