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Aureos seeks $250m for Southeast Asia fund

The emerging markets private equity firm is targeting a first close for Aureos Southeast Asia Fund II by June 2010.

Aureos Capital has launched fundraising for Aureos Southeast Asia Fund II, which is targeting commitments of $250 million, Brigit van Dijk – Van de Reijt, a partner at the firm, told PEI Asia.

The fund is expected to see a first close by June 2010, she said.

“We believe and based on our experience with Aureos Southeast Asia Fund I, that there is a huge potential to build flourishing medium-sized businesses within the Southeast Asia region, especially in the niche market we operate in,” she added.

She added that the firm sees opportunities in consumption, owing to a large and young population; in manufacturing serving both domestic and export markets; in services, a sector in which growth has been faster than overall GDP growth; and opportunities arising from the stimulus packages provided by governments in the region.

Aureos Southeast Asia Fund II has no particular sector preference and will invest across industries. The fund’s average investment size is between $2 million and $10 million per transaction.

The firm’s first fund focused on Southeast Asia is a $86 million vehicle. It has thus far deployed $52 million in 13 investments across the region. The firm also manages a $25 million fund focused on Malaysia and another $25 million fund targeting Brunei.

Separately, Aureos Capital has garnered $322.8 million for its first pan-African private equity fund. That fund is expected to close on between $350 million and $375 million.

Aureos manages assets of more than $1.1 billion across 16 regional private equity funds focused on Asia, Africa and Latin America. In Southeast Asia, the firm has offices in Indonesia, the Philippines, Thailand and Vietnam.