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Oversea Chinese Banking : OCBC, Lion Global Establish S$550 Million Private Equity Fund

08/26/2015 | 10:42pm US/Eastern
   By P.R. Venkat 
 

SINGAPORE--Oversea-Chinese Banking Corp. (O39.SG) and its asset management unit Lion Global Investors have established a S$550 million (US$392 million) private equity fund that will invest in small and medium-sized companies in Asia.

The Lion-OCBC Capital Asia Fund I, L.P. started out as a S$400 million fund and the size increased by nearly 40% due to strong demand from investors, OCBC and Lion Global said in a joint statement Thursday.

The fund, which has been closed, has attracted investors from insurance companies, regional banks, sovereign wealth funds and high net-worth individuals, the statement said.

It said the fund will target high-growth small and medium enterprises in four core markets of Singapore, Malaysia, Indonesia and China focusing on sectors such as agriculture, commodities, and consumer industries.

OCBC is Singapore's second-largest bank by assets after DBS Group Holdings (D05.SG), while its unit, Lion Global Investors, has assets under management of S$36 billion.

Write to P.R. Venkat at venkat.pr@dowjones.com

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