CEO Brahmal Vasudevan. Creador, hopes to divest its more than five-year-old stakes in Malaysian credit reporting agency CTOS Holdings and Indonesian lender Bank Index.
“We have the CTOS IPO coming up in Malaysia around July. We have appointed investment banks and are currently working out details,” he said, declining to elaborate. Malaysian credit reporting agency CTOS, which has roped in RHB Investment Bank, Maybank Investment Bank and Credit Suisse as advisers, is reportedly seeking to raise about $150 million from its IPO.
Creador bought a 70% stake in CTOS Holdings for 215 million ringgit ($53 million) in September 2014 through its second fund. The private equity fund currently owns an 80% stake in CTOS and is looking to sell at least a 25% stake, DealStreetAsia reported in August last year.
While the broad strategy for the fifth fund will be similar to its predecessors, Creador may scout for more deal opportunities in Thailand.
“The geographic focus is going to be the same. We cover India, Indonesia, Malaysia, Vietnam and the Philippines. We may see a little more [investment] in Thailand this time. We are exploring the market,” Vasudevan said.