Templeton EM announces final close of Emerging Markets Private Equity Fund
Templeton Emerging Markets Group today announced that Templeton Strategic Emerging Marketing Fund IV closed to new investors with total capital commitments of over $220m.
TSEMF IV was established in 2012 and is managed by a team within Templeton Asset Management, Ltd. (“TAML”) led by Mark Mobius (pictured), executive chairman of Templeton Emerging Markets Group.
TSEMF IV is a private equity fund with a global emerging markets mandate. TSEMF IV seeks to capitalize on the favorable economic growth, strong long-term fundamentals and favorable demographics within emerging markets. TSEMF IV’s global emerging markets mandate provides it with an opportunity to access compelling companies, regions and sectors.
The fund seeks to invest in undervalued companies with good management and growth prospects and competitive advantages where there exists an opportunity to create value through an injection of growth capital and business improvement initiatives.
TSEMF IV has made three investments totalling $59m. The most recent is a TRY67.0m (about $33.5m) investment in unlisted Sok Marketler Ticaret A.S. (“Sok”), one of Turkey’s largest discount food retailing companies operating more than 2,200 stores nationwide. Sok’s parent company is Yildiz Holding A.S., one of the largest conglomerates in Turkey with an established presence in the food production and food retailing industry.
“Now that TSEMF IV is fully funded, we look forward to deploying more capital in what we believe is a highly attractive market for private equity, and continuing the fund’s unique role in supporting growth in small- to mid-sized companies across emerging markets,” said Mobius.
“We continue to follow our time-tested investment philosophy to identify and structure investments in promising companies on attractive terms in order to seek to maximize returns for our shareholders.”