CapAsia, a joint venture between CIMB Group and Standard Bank operates three infrastructure investment vehicles such as South East Asia Strategic Assets Fund (SEASAF), Islamic Infrastructure Fund (IIF) and Asia Infrastructure Fund (AIF).
CapAsia said it has accumulated more than $500m in capital commitments and owns more than $400m in assets under management.
Under the terms of the acquisition deal, TRG will get 60% of the general partner interest in CapAsia, while CIMB will own remaining stake and will extend full support to the company’s operational and growth initiatives.
TRG CEO and chief investment officer Nicolas Rohatyn said the CapAsia transaction builds on TRG’s strategy to grow their private investing business in Asia in infrastructure and real estate and well complements their 2011 investment in ARCH Capital.
Both firms expect that the transaction will be completed by the end of the first quarter of 2012 in accordance with customary closing conditions.
