Indonesian Merchant Bank Launches With $1B Fund Goal

Law360, New York (January 9, 2012, 2:04 PM EST) -- A former U.S. investment banking executive and other Southeast Asia financial players have launched an Indonesian merchant banking operation called Yawadwipa Cos., with plans to raise $1 billion for a private equity fund, the firm said Monday.

Yawadwipa, which is Sanskrit for "the noble island of Java," plans to raise money for its $1 billion Java Fund to invest in Indonesian assets, the firm said in a statement. The bank expects regulatory approval for its creation in the first quarter of 2012.

The new firm said it would...
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