SAKAE Holdings on Tuesday said that given the group's progress in its corporate advisory business, it is now focused on establishing an asset management business and exploring starting a S$250 million "opportunistic fund" to invest in both public and private opportunities.
Such opportunities, said Sakae in a statement, are those the group identifies as having deep value because of growth prospects, market inefficiencies or otherwise.
This announcement comes a day after Sakae Corporate Advisory - a wholly-owned subsidiary of Sakae Holdings - hosted the 2015 EMPEA Members-Only Reception for over 70 members and guests.
EMPEA, the Emerging Markets Private Equity Association, has over 300 member firms who together manage more than US$1 trillion of assets.
Said Sakae Holdings founder Douglas Foo: "We are delighted that EMPEA has chosen us to host the Members-Only Reception for EMPEA in Singapore. We have made rapid progress in our financial services business vertical following Sakae Holdings' shareholders' approval in September last year, and the co-operation with Religare Capital Markets further accelerates and expands our offering to emerging growth companies ... we have joined EMPEA as a member because we believe that, for a number of emerging growth companies, private equity would be an optimal capital solution."
Sakae Holdings added that its corporate advisory business gives the group access to companies with significant growth and promising strength while allowing it mind-share with a number of international investors.
"Our vision is to be a trusted partner for companies that we have high conviction in, and for investors to whom we showcase such companies," said the group.
Therefore, an asset management business is the logical next step in the development of its financial services business, said Sakae Holdings, as it would allow the group to further reinforce the partnership with its stakeholders, benefit the companies that it invests in, as well as promote its investors' goals.