Singapore PE firm Ikhlas Capital invests in Silverlake partnership

Silverlake Axis

06/07/2021 12:17

By Liz Lee
    KUALA LUMPUR, July 6 (Reuters) - Singapore-based private
equity firm Ikhlas Capital has formed a strategic partnership
with Silverlake Group through a $40 million investment to
support the software company's growth, the firms said on
Tuesday.
    Ikhlas will be Silverlake's first institutional partner, and
the tie-up will help the technology software group strengthen
its foothold in Asia and accelerate international expansion,
they said in a joint statement. 
    The firms did not detail the stake involved in the
investment. A source close to the deal said the investment
includes Ikhlas taking equity stakes in the listed entity and in
unlisted parts of the Silverlake Group.
    Silverlake Group founder and executive chairman Goh Peng Ooi
is the largest shareholder in Silverlake Axis Ltd  SLVX.SI ,
with 68% equity. Silverlake has a digital banking platform
called Mobius.
    Last week, AirAsia Group Bhd  AIRA.KL  announced its fintech
unit BigPay had applied for a digital banking license in
Malaysia, in a consortium that includes Ikhlas, Malaysian
Industrial Development Finance Berhad and a foreign conglomerate
with fintech expertise that it did not name.  urn:newsml:reuters.com:*:nL3N2OD30W
    

 (Reporting by Liz Lee; Editing by Martin Petty)
 ((liz.lee@thomsonreuters.com; Desk: +60323338039; Twitter:
@livinglizly;))