The Northstar Group is a leading Southeast Asia private equity fund manager.
WHO WE ARE
The Northstar Group is a Singapore headquartered private equity firm managing more than US$2.2 billion in committed equity capital dedicated to investing in growth companies in Indonesia and to a lesser extent, other countries in Southeast Asia.
The Northstar Group has a solid track record of actively growing the businesses of its investee companies over its investment horizon. Since its founding in 2003, the Northstar Group has raised five private equity funds and invested in more than 35 companies across the banking, insurance, consumer/retail, manufacturing, oil and gas, coal and mining services, technology, telecom, and agribusiness sectors. The Northstar Group has invested over US$3.3 billion with its co-investors in the Southeast Asian region.
The Northstar Group is supported by a team of over 25 professionals. The team brings together significant international experience, deep local market insight, and sensitivity to local conventions and conditions
The investors in the Northstar Group funds include a global list of sovereign wealth funds, pension funds, endowments, family offices, and other institutional investors.
The Northstar Group holds a Capital Markets Services License for the provision of Fund Management services from the Monetary Authority of Singapore. The Northstar Group is also an Exempt Reporting Advisor with the United States Securities and Exchange Commission.
Patrick Walujo
Co-Founder, Managing Partner and Member of the Investment Committee
Before co-founding Northstar in 2003, Patrick was senior vice president of Pacific Century Ventures Ltd in Tokyo. He started his career at Goldman, Sachs & Co. and worked in both the London and New York offices. In 2009, Patrick was awarded Ernst & Young’s prestigious ‘Young Entrepreneur of the Year’ award. He is a member of the International Advisory Board of the Council on Foreign Relations. Patrick holds a Bachelor of Science in Operations Research & Industrial Engineering from Cornell University.
Glenn Sugita
Co-Founder, Managing Partner and Member of the Investment Committee
Before co-founding Northstar in 2003, Glenn was a senior vice president of PricewaterhouseCoopers Securities Indonesia where he led a number of important projects for private and governmental clients. Prior to PricewaterhouseCoopers Securities Indonesia, Glenn was an associate director at PT Bahana Securities. He holds a Bachelor of Science in Electrical Engineering and a Master of Science in Electrical Engineering from Tennessee Technological University.
Tan Choon Hong
Co-Chief Investment Officer and Member of the Investment Committee
Choon Hong joined Northstar in 2011. Prior to joining Northstar, he was Director of Special Projects at CS Partners, a multi-family office, responsible for direct investments across Southeast Asia. From 2005 to 2007, Choon Hong was with the Government of Singapore Investment Corporation where he helped build the private equity investment portfolio in South Asia focusing on Indonesia. He was awarded the prestigious Overseas Merit Scholarship by the Singapore Public Service Commission.
PORTFOLIO
The leading on-demand hyper-local service provider in Indonesia across transportation, delivery, shopping, services and payments.
Greenfields is a leading vertically-integrated dairy business in Southeast Asia.
Up Gen is the leading flexible office space provider in Vietnam.
INVESTMENT STRATEGY
We believe that Southeast Asia, and in particular, Indonesia (with the world’s fourth largest population, attractive demographics, abundant natural resources, and a stable democracy) will continue to provide excellent investment opportunities going forward. The Northstar Group has a broad and flexible investment mandate, and we have deployed the majority of our capital in sectors where we believe we can leverage our deep experience and long-standing relationships.
We seek opportunities to invest in majority stakes or significant minority stakes in leading Southeast Asian companies. We are value-added investors who are prepared to work closely with management teams and play an active role in assisting our portfolio companies to reach their full potential. Although we will generally pursue investments in the consumer/retail, financial services, natural resources, and telecommunications sectors, we will opportunistically pursue investments in other sectors as well.
We are also prepared to back proven management teams to buy out businesses or to significantly expand their companies via a “buy and build” strategy. While we always drive our portfolio companies to “play the game better”, we often aim to “change the game” via helping our portfolio companies with acquisitions, new product development, expanded business strategies, and accessing new sources of capital.
INDUSTRY EXPERTISE
The Northstar Group has significant industry experience in the Consumer/Retail, Financial Services, Natural Resources, Telecommunications and Services sectors. We believe that these sectors will continue to benefit from the substantial demographic and economic shifts that are occurring in Southeast Asia, including significant increases in productivity and consumption.
We believe that great teams make great companies. We work very closely with our partners, including entrepreneurs, founding families, government entities, and the management teams at our portfolio companies.
Northstar has over 25 professionals devoted to investment, operations and fund administration activities. The team brings together significant international experience, deep local market insight and sensitivity to local conventions and conditions.
HISTORY
2021
- Northstar and TPG co-invest in Greenfields Dairy.
- Northstar partially exits PT Centrama Telekomunikasi Indonesia Tbk.
- Northstar portfolio company Triputra Agro Persada successfully lists in Jakarta stock exchange.
2020
- Northstar invests in online education company Zenius.
- Northstar invests in eFishery, and aquatech company in Indonesia.
- Northstar leads substantial successful exit from its structured financing to the Salim group.
2019
- Northstar sells The Thai Credit Retail Bank to Olympus Capital.
- Northstar invests in Ti Ki, one of Vietnam’s leading e-commerce platforms.
IMPACT
We are committed to having a positive impact on the communities where we do business. The Northstar Impact Committee was created to carry out this mission. Our impact initiatives are focused on three areas:
Philanthropy: The Northstar Foundation makes regular financial contributions to a number of organisations, including the Peace Generation Foundation, Red Nose Foundation, Yayasan Karya Salemba Empat, Yayasan Mata Air, Yayasan Cinta Anak Bangsa, Universitas Paramadina, and National University of Singapore.
Volunteering: Northstar employees regularly give of their time to a long list of community causes, including some of the foundations listed above.
Impact Investing: The Northstar Foundation has made investments in a number of businesses that are seeking to make significant impacts on the social and economic development of remote communities in Indonesia. In addition, Northstar contributes its expertise by actively consulting with the management of these businesses to further their impact. Northstar’s impact investments include (1) Jati Lintang, a sustainable teak plantation in Central Java, (2) Electric Vine Industries, a micro-utility bringing sustainable energy access to un-electrified Indonesians and (3) Du’Anyam, a social enterprise that produces and distributes wicker crafts to economically empower and improve the health of women in rural Indonesia.
CONTACT
Northstar Advisors Pte. Ltd.
6 Battery Road Unit #35-05 Singapore 049909
Tel: +65 6533-3210 Fax: +65 6533-3211
QUESTIONS OR COMMENTS
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