GIC exec that led landmark deals in Asia to start own fund

Details:

• Amit Kunal, managing director of private equity in Southeast Asia at GIC, is building a new fund with US$500 million to US$1 billion in assets under management. Its goal: to help develop companies in the region.
• Choo Koon Po, GIC’s vice president of private equity in Southeast Asia, joins Kunal in the new fund. The two executives worked together at Bank of America Merrill Lynch before taking on roles at GIC.

Dive deeper:

• Kunal joined GIC in 2011, helping the sovereign wealth fund close some of the region’s biggest deals including those with Philippine snack maker Monde Nissin and Indonesian ecommerce platform Bukalapak.
• GIC has steadily increased its investments in Asia over the past decade. Deals in the region make up about 34% of its current portfolio, which is a 27% increase from 2011.