Northcliff Capital Pte Ltd, a private equity company affiliated with PT Simasindo Intitama, is aiming to be the leading private equity in the region within the next five years with an investment of US$ 1 billion. For this year, the company plans to invest US$ 300 million in three local companies.
The emergence of private equity firms, such as Northcliff and Simasindo, is fresh air in the middle of the government’s plans to attract as much foreign investment as possible into the country. It shows that local investment companies are able to show off and compete with foreign investors who will go into the real sector. Their investment will also accelerate the pace of economic growth in Indonesia in the future.
Erry Sulistio, the Northcliff’s CEO, said the companies being targeted as Northcliff’s investments, among others, engaged in the manufacturing of automotive parts. “We do not go into a company that is already mature. Companies we select are financially distress and may need improvement but the potential upside is large, “said Erry.
Investments outside the fund set up to finance property projects and oil and gas owned by PT Ratu Prabu Energi Tbk (ARTI) worth US $ 200 million will be disbursed gradually in two years. The funds will be used to finance the construction of the mixed-use project in TB Simatupang, South Jakarta called Ratu Prabu 3. Simasindo is one of the Ratu Prabu shareholders with an ownership of 12%. The company is also conducting due diligence on a company listed on the London Stock Exchange. Through Simasindo, Northcliff sure could be a respected investment company in Indonesia and Southeast Asia. (*)
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