Malaysia-headquartered private equity firm Creador plans to raise a new PE fund next year with a $1 billion target.

“We are targeting to launch the new fund in the first quarter next year,” Creador Founder and Chief Executive Officer Brahmal Vasudevan told TNGlobal.

The news also came after Creador closed its previous fund (sixth fund) at $930 million, exceeding a $750-million target in January last year.

The fundraise of its seventh fund is expected to hit first close in 2027, following the PE firm’s typical fundraising cycle of about three years, according to a group of investors aware of the matter, DealStreetAsia earlier reported. DealStreetAsia first reported the news of Creador’s new PE fund, quoting investors familiar with the matter.

According to the report, the sixth fund is about 60 percent committed with Southeast Asian investments in Long Chau in Vietnam, MR D.I.Y. Holding (Thailand), Malaysia’s APU, as well as deals in India, such as IKF Finance, Shubham Housing, and La Renon, the investors were quoted as saying said.

Established in 2011, Creador focused in South and Southeast Asia. Since its inception, Creador has raised over $3.0 billion across six funds and invested in over 60 companies.

Creador said it focused on growth capital investments in South and Southeast Asia primarily Indonesia, Malaysia, Philippines, Singapore, India and also in Sri Lanka. These markets benefit from a young and growing population, lower but rising GDP per capita and a rapidly growing middle class, the company added.

The firm’s investments span a wide range of industries in South and Southeast Asia, from finance, fashion retailer, convenience store, pharmacy, among others.

Its portfolio companies include BFI Finance, Media Nusantara Citra, Simba Indosnack Makmur, Bonia Group, Vectus Industries Limited, CTOS Holding Sdn Bhd, Asiamet Education Group Berhad, PC Jeweller Ltd, Ashiana Housing Ltd, Bank Index Selindo, Cisarua Mountain Dairy, RedCap Pharmacy, Nipress, 7-Eleven Malaysia Holdings Bhd, Corona Remedia, and MR. D.I.Y Group, etc, information from its Linkedin Page showed.

Malaysia’s PE firm Creador closes Fund VI at $930 million, says Founder & CEO Brahmal Vasudevan