Singapore’s Golden Equator Capital Raised USD90m Private Capital Funds
Golden Equator Capital has successfully raised two private capital funds totalling USD90 million for the growth capital of a public listed company in the region. The funds were backed by institutional and accredited investors in Singapore, Japan and Korea.
The private capital funds primarily focus on the infrastructure, energy, and financial sector, and are led by Jacob Jiwon Kim, Managing Partner at Golden Equator Capital. He has worked for various government and financial institutions in the region as a corporate strategy and acquisition specialist with a strong background managing multiple hedge funds and a private equity fund covering Asian markets.
Jacob Jiwon Kim, Managing Partner (Private Capital) of Golden Equator Capital, said, “Asia has historically been a market financed by Western banks, but with these lenders scaling back in Asia in the last decade, the gap in the much-needed growth-financing for Asia’s emerging economies has been growing. At the same time, there is a lot of capital in developed Asian markets such as Japan and Korea that’s looking for investments with stronger returns than their domestic markets. With our strong regional network and market expertise, we are well poised to curate investment opportunities in Southeast Asia for investors from developed Asian markets.”
Following the successful launch of its two private capital funds, GEC targets to raise a blind fund in the range of US$200 million next year. Meanwhile, the fund manager continues to work on additional projects and may potentially launch a few more project funds. The private capital funds will cover private debt and mezzanine financing to provide growth capital for acquisitions and business expansion purposes, for companies and projects in Southeast Asia.
“In the next five years, Asia will be a strong source of growth for the global economy. This will be driven by infrastructure, energy, finance, and technology. Beyond the more mature and competitive Western markets, private debt markets in Asia offer an untapped reserve of opportunity, especially the emerging Asian markets. We can contribute to this growth by using Singapore as a base to continually connect the markets in the Southeast Asian region with the broader Asia Pacific region, through our Golden Equator Group’s deep networks in these markets,” added Kim.
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