Northstar Invests in Indonesian Brokerage Trimegah (Asia)

Source: AVCJ  |  Author: Tim Burroughs

Indonesian private equity firm Northstar Pacific Partners has acquired a 49 percent stake in Indonesian Stock Exchange-listed brokerage Trimegah Securities for IDR200 billion (approximately US$20.8 million). The firm purchased 1.7 billion shares in Trimegah, including shares owned by hedge fund Spinnaker Capital. Northstar made the investment through Northstar Equity Partners III, a US$820 million Indonesia-focused private equity fund that closed in October 2011.