Siguler Guff has raised $240 million for its first global emerging markets direct investment fund, after having invested $4.5 billion in emerging markets over the past decade.
The fund GEMCo has an opportunistic aim to invest across high-growth, expansion-stage businesses and has already made a number of investments in the e-commerce, internet marketplace, organized retail, consumer mobility and enterprise software sectors.
Previously the firm has invested through private equity managers and direct investments in Asia, Latin America and Eastern Europe. Specifically, the firm has invested more than $1.8 billion in over 100 direct investments.
The fund will invest in companies with proven management teams that are establishing category leadership, with a primary focus on China, India and Southeast Asia.
“GEMCo, our first direct investment emerging markets fund, represents a strategic evolution and broadening of the firm’s emerging markets strategy,” Drew Guff, founding partner of $15 billion firm Siguler Guff and co-portfolio manager. “We are pleased to have received such strong support and validation from our limited partners.”
LPs include public and corporate pension plans, insurance companies, sovereign wealth funds, endowments, foundations and family offices. Investors represent a broad geographic range including North America, Europe, Australia, Asia and the Middle East.
According to Shaun Khubchandani, managing director at the firm, the unique deal flow is generated by Siguler Guff’s global network of relationships that allows the new fund to play a substantial role in the premier transactions take place within each region.
“We have been extremely active over the last year, having more than doubled the size of our portfolio, and we continue to build and execute on a strong pipeline of opportunities,” said Khubchandani.