The Chearavanont family, Thailand’s wealthiest which controls conglomerate Charoen Pokphand Group (CP Group), has joined hands with Los Angeles-based LDA Capital to form a private fund dedicated to globally-listed and pre-IPO companies in Southeast Asia’s middle market. CPFam-LDA Asia Growth Fund, which is a partnership between LDA and Charoen Energy and Water Asia (CEWA), a CP Group family’s affiliate, is targeting $2 billion in capital commitments over the next 12 to 18 months, according to a statement on Thursday. “Partnering with CEWA and CP Group family enhances LDA’s ability to access business leaders across Southeast Asia and provide necessary innovative and flexible funding solutions to support growth,” said Anthony Romano, co-founder of LDA, a global alternative investment firm that has executed transactions of $11 billion in aggregate value. The vehicle aims to level the playing field for middle market businesses looking to grow and compete on a global level, the statement read. “I believe the fund is another excellent financing resource to support growth businesses and entrepreneurs across Thailand and Southeast Asia,” said Chatchaval Jiaravanon, chairman and founder of CEWA, who will serve as fund director.
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