Singapore, US chemicals PE firms setting up fund to scale up and boost deals
Hafnium Hafaway and Lion Chemical Partners could start the fund in Singapore, Dubai or Cayman Islands
Singapore
CHEMICALS-focused private equity firm Hafnium Hafaway, newly set up in Singapore late last year, has tied up with US private equity player Lion Chemical Partners to jointly set up a fund and explore other business development opportunities.
These could include working with American chemical companies held by Lion Chemical Partners to establish or further their presence in Asia, said Hafnium executive director Francis Tan.
"We don't have a set-up there, and they don't have a set-up outside of the US. That's where the partnership makes sense both in terms of deal flow and scale expertise," he told The Business Times in an interview.
Hafnium Hafaway, established in October last year, plans to acquire stakes in small but promising European chemicals companies with revenues less than US$200 million, and earnings before interest, taxes, depre…
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