🇸🇬 investment firm raises $590m in final close of fifth fund

Northstar Group, a Singapore-based private equity firm, has announced the final close of its fifth flagship fund with US$590 million in commitments.

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Called Northstar V, the fund will continue to focus on mature growth companies, with select investments in early-stage opportunities in Indonesia and, to a lesser extent, other countries in Southeast Asia. Its portfolio includes companies such as Greenfields, Advance Intelligence Group, and Ula.

The core investment themes of the fund are consumers, financial services, the digital economy, and recovery from the Covid-19 pandemic.

“The past two years have seen unprecedented volatility, uncertainty, and complexity, but Southeast Asia and, in particular, Indonesia continue to present compelling medium- to long-term investment opportunities,” said Patrick Walujo, co-founder and managing partner of Northstar Group.

The fund received backing from global investors, including sovereign wealth funds, insurance companies, institutional investors, family offices, and high-net-worth individuals.

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Founded in 2003, Northstar Group has invested in more than 35 companies. With the final close of its fifth fund, the firm now manages over US$2.5 billion in committed capital.