Thai Multi-Family Office Blueprint Forest Launches $120m Southeast Asia PE fund

Bangkok-based multi-family investment firm Blueprint Forest has allocated $120 million for investments into businesses across Southeast Asia.The investments will be managed by 9 Basil, a Southeast Asian private equity and distressed debt platform with a focus on Thailand, according to a statement

Blueprint Forest’s portfolio includes global public equities fund Lossless Capital, 9 Basil, and Asia-focused value fund Open Forest. The investment company said it comprises 25 business families from over nine countries that average over 100 years of operating history. It has increased assets under management by over $500 million since 2019.

Meanwhile, 9 Basil, powered by a number of established families across Southeast Asia, was founded by Schwin Chiaravanont, from the billionaire Thai Chiaravanont family, and Kris Panijpan.

The new $120 million fund will back regional businesses across financial services, consumer brands, supply chain, and real estate sectors. It will also look at distressed assets, and aims to open new markets and create synergies to help invested companies, thanks to 9 Basil’s network in Thailand as well as the US and China.

Over the course of the next five years, Blueprint Forest said, the company expects to invest in approximately 2-3 Southeast Asian companies per year.

To date, 9 Basil has funded a number of businesses including tech-enabled consumer finance and insurance brokerage firm Ngern Tid Lor Co. Ltd and distressed debt management platform Alpha Capital Co. Ltd, in partnership with CVC Private Equity and Ares SSG respectively.

“We have designed 9 Basil to become the strategic local partner of choice — at the nexus of several networks, independent from any large business or political group, and highly capable in deal execution,” said Schwin Chiaravanont, co-founder and managing partner of 9 Basil.

“In what has become a volatile market, we seek businesses across the Southeast Asian region with strong leadership that is predictable, able to generate high returns on invested capital, and structurally downside protective,” he added.

Chiaravanont is also the co-founder of 2W Group, a family office in Thailand. Meanwhile, Panijpan is an established Chartered Financial Analyst charter holder with extensive experience as both a corporate lawyer and investment banker. He used to lead senior positions at Aura Group, Nomura Thailand, Daiwa Securities’ Bangkok office, and Siam Commercial Bank, according to his LinkedIn profile.

9 Basil has also appointed advisory board members for its first private equity fund, which include finance and investment professionals across Southeast Asia from 2W Group, Central Group, Daiwa Securities, Oakdrive Venture, Harmony Assets Developments, and others.

Source: DealStreetAsia