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CIMB Standard to raise fresh capital, open new offices CIMB Standard to raise fresh capital, open new offices

17 Nov 2009. Source: AltAssets
CIMB Standard, a private equity firm owned by Malaysia’s CIMB and South Africa's Standard Bank, plans to launch a $300m South East Asia infrastructure fund and grow its current Islamic infrastructure fund to its target of $500m by early 2011, according to Reuters.

The increase in funds would double the firm’s assets under management to around $1bn.

CIMB Standard currently manages a $150m South East Asia infrastructure fund and a $262m Islamic infrastructure fund backed by the Asian Development Bank and Islamic Development Bank, the report said.

Johan Bastin, Singapore-based CEO of CIMB Standard Strategic Assets Advisors, also told Reuters that the firm is opening an office in Indonesia next month and Turkey office around the middle of next year to cover investments in the Middle East.

Copyright © 2009 AltAssets

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