ADB invests $60 million in Southeast Asia equity fund

MANILA, Philippines — The Philippines will be among the beneficiaries of a $60-million Asian Development Bank (ADB) investment in a private fund that is expected to create additional jobs.

The Manila-based multilateral lender signed a $60-million equity investment in Creador V L.P., a private equity fund managed by investment firm Creadorm, for investments in companies in South and Southeast Asia.

The investment is expected to create new jobs, increase tax revenues, and improve access to health and financial services.

ADB said Creador V would provide growth capital primarily to middle-market companies operating in business services, consumer goods and services, health care, pharmaceuticals, financial services, and manufacturing.

It will cover the Philippines, India, Indonesia, Malaysia and Vietnam. Bangladesh, Singapore, Sri Lanka and Thailand are also being considered.

Creador V has investments in Mr. DIY Philippines which was established in 2018 and is part of the regional expansion of Mr. DIY Malaysia.

Mr. DIY Philippines retails a variety of household, hardware and electrical products.

ADB said Creador has evolved into one of the leading institutional private equity platforms in Southeast Asia and is focused on markets and sectors where ADB seeks to build out its equity portfolio.

This is ADB’s third investment in a Creador-managed fund following infusions in 2016 and 2018.

As part of ADB’s investment, Creador will adopt gender initiatives to promote greater financial inclusion of women through investments.

Established in 2011, Creador has launched five private equity funds with $2 billion in committed capital. It employs 50 professionals across five offices in developing Asia.