Elite Partners Capital's new fund eyes US$200m target to invest in undervalued firms

SINGAPORE-BASED private equity firm Elite Partners Capital is targeting to raise US$200 million for a new global equity fund that targets undervalued companies. The open-end Elite Trafford Global Equity Fund was launched in August and has since raised more than US$20 million, said Elite.

It offers investors exposure to companies that have strong long-term fundamentals, but are being undervalued by the market and depressed by short-term negative factors. The fund will hold positions in these companies with a two to five-year investment horizon.

It primarily targets high net worth investors who are accredited under the Monetary Authority of Singapore's guidelines, and those that "seek long-term capital appreciation and understand the risks involved in investing in such an equity fund", said Elite.

Victor Song, chief executive officer of Elite, said: "The Elite Trafford Global Equity Fund is an opportune addition to Elite's growing assets under management. The fund will provide investors exposure to discounted, but high-value equities which will yield above market returns."

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