Ikhlas Capital raises $370M for second Southeast Asia fund

What's the deal? Ikhlas CapitalDealroom has a profile for this one. Try Dealroom →, a Singapore-based private equity firm, has raised $370 million for its second fund, Ikhlas Capital Fund II. The firm expanded its investor base for the vehicle, which drew major state backing.

Why now? The new fund marks a step up from the firm's debut vehicle, which secured about $230 million in limited partner commitments.

What's the endgame? Ikhlas Capital invests across Southeast Asia. Recent deals include a $16.6 million investment in Malaysia's PMG Healthcare GroupDealroom has a profile for this one. Try Dealroom →.

The signal: A larger second fund and a wider LP base point to continued institutional appetite for private equity in Southeast Asia, with state-linked capital anchoring regional managers.

Read more: dealstreetasia.com

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