OCBC aiming for encore performance by gem of a PE fund

Singapore

A LITTLE-known, OCBC bank-backed private equity fund is on course to achieve its targeted internal rate of return (IRR) of 20 per cent - and the bank is aiming to start a second fund next year.

The Lion-OCBC Capital Asia Fund I (LOCAF I) is a S$550-million fund launched in 2015. Targeted at high-growth small and medium enterprises in Asia, it has made some 10 investments to-date and is expected to be fully deployed by end of this year.