Brummer Prefers Private-Equity Bets Over Stocks: Southeast Asia
Brummer & Partners, the largest Scandinavian hedge-fund manager, will favor private companies rather than listed stocks to avoid volatility as it sets aside $120 million to tap growth in the Philippines.
“It is a better way to participate in the long-term growth of a country to be on the private side,” Patrik Brummer, founder of the Stockholm-based firm, said in an interview inManila yesterday. “Public markets are more volatile than private markets.”
The fund, which manages about $15 billion, is working with local partners Honorio Poblador and Javier Infante, he said. The private-equity fund, called Navegar, will over five years invest in eight to 10 companies that should generate returns of at least 20 percent each, Brummer said.
The Asian Century Report 