Bangkok-based Alpha Capital has announced plans to become Thailand’s largest independent asset manager after securing the backing of a local private equity firm and proposing an initial public offering (IPO).
9 Basil, the private equity arm of Southeast Asian investment firm Blueprint Forest, acquired a stake in Alpha Capital in 2019 and has given its support to the IPO.
The firms will focus on distressed assets and the real estate and hospitality sectors.
“With the business cycle supplying increasing opportunities in this space, we will look to back Alpha Capital into becoming leaders in this sector, in size, scope and innovative uses of technology,” said Kris Panjipan, board member at Alpha Capital.
“The timing is right for us to enlist the support of the capital markets,” he added.
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