Aureos Capital, the private equity fund management company specialising in unlisted mid-cap business...
Aureos Capital, the private equity fund management company specialising in unlisted mid-cap businesses across Asia, Africa and Latin America, is planning to double funds under management to $1.2bn (£619.85m)
The company will launch a number of funds and open 10 offices over the next few years to add to its current international network of 22.
Sev Vettivetpillai, chief executive of Aureos Advisers, said the company planned to approximately double its funds under management by 2008/09. Two new funds are scheduled for launch in 2007: an Aureos Central Asia fund and a second generation pan-regional Aureos Latin American fund. A pan-regional Africa fund is also being developed.
"We are very excited about the opportunities for both these funds," said Vettivetpillai. "Our sweet spot is the sub-$10m deal where really good returns are available and we are the only fund manager focused on this mid-cap sector."
The Aureos Central Asia fund will be a $120m fund focusing mainly on the Caspian Basin, including countries such as Kazakhstan, Uzbekistan and Azerbaijan, and will be managed out of a new office in Kazakhstan. The first close is scheduled for the first quarter of 2007.
The pan-regional Aureos Latin America fund will be a $300m vehicle that will invest in opportunities mainly in Central America, Mexico, Peru and Colombia.
The first closing is expected to take place in the second quarter of 2007, with commitments of approximately $150m.
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