Standard Chartered Private Equity Invests in Maxpower and Crystal Jade Group (Asia)
Source: Standard Chartered Private Equity, Asian Venture Capital Journal | Author(s): Tim Burroughs
Standard Chartered Private Equity (SCPE), the private equity arm of Standard Chartered Bank, has provided US$60 million in equity financing to Indonesia-based power plant developer Maxpower and served as joint lead arranger on a US$222 million debt refinancing for the company. Maxpower will use the funds to support its ongoing construction program. Separately, SCPE has invested US$52 million in Crystal Jade Group, a Singapore-based food and beverage company owned by private equity firm L Capital Asia. Crystal Jade Group will use the new investment to fund the growth of its existing network, as well as its international expansion.