Manila-headquartered Asian Development Bank (ADB) has approved a $25-million investment in the latest private equity vehicle of Singapore-based fund manager Mizuho Asia Partners.
The fund, Exacta Asia Investment III, which has a target of $350 million, is a private equity vehicle focused on lower-middle market companies across consumer-driven sectors, manufacturing, and B2B services. Its primary geographic targets are Indonesia, Malaysia, the Philippines, Thailand, and Vietnam.