SEAVI Advent Corporation Limited (SEAVI Advent), Asian affiliate of Advent International, has announced the final closing of its fifth fund, the SEAVI Advent Equity V Fund Limited Partnership and its associated parallel funds (collectively known as “SEAVI Fund V”). Total capital raised in SEAVI Fund V is US$178 million with commitments received from various institutional investors and other family groups in Singapore, Hong Kong, Germany, Holland, Switzerland and Belgium.
In December 2008, SEAVI Advent achieved its final closing for SEAVI Fund V at US$178 million, with investors from Asia and Europe. Investors in SEAVI Fund V include both existing investors of previous funds as well as new investors who are establishing a first time relationship with SEAVI Advent. With the existing team of 13 professionals in 4 offices in Singapore (regional headquarter), Hong Kong, Beijing and Shanghai, SEAVI Fund V will continue to implement SEAVI Advent’s successful investment strategy.
SEAVI Advent has proven track record in executing private equity investments in the strategic markets of Singapore, Hong Kong/Greater China and in the other South East Asian countries. SEAVI Advent specializes in growth or late stage investments and mid-market buyouts. Its current key sector focuses include industrial, telecommunications/media/technology, oil and gas, alternative energy, environmental and healthcare/medical equipment. In the predecessor fund, SEAVI’s US$70 million Fund IV, investments include Chemspec Corporation, Chic Logistics and Sinofriends and five other portfolio companies listed on the Singapore Stock Exchange namely, Yangzijiang Shipbuilding Holdings Limited,, Sunvic Chemicals Holdings Limited, China Sunsine Chemical Holdings Limited, Sinostar PEC Holdings Limited and Dynamic Colours Limited.
CEO Tan Keng Boon said “We are pleased to receive the continuous support of our existing investors and we welcome our new investors from Europe and Asia. As we enter into 2009, we anticipate a continued difficult operating environment that could be both challenging and yet rewarding for us and our investors in the medium term. We are confident that with our partners’ 25 years of experience in operating over a number of different economic cycles in the Asia Pacific region, we will be able to excel through these challenging times.”
To date, SEAVI Fund V has made 3 investments in China and Singapore respectively.