Performance

Longevity in an Underserved, High Growth Market

Navis is one of the longest standing private equity groups in South and Southeast Asia. The Firm has steadily expanded its operations to capture investment opportunities by building a local presence across South and Southeast Asia. Retaining a focus on its core sector expertise, Navis has selectively invested in companies where it can develop synergies across its portfolio, or drive geographic expansion through its pan-Asian network. The General Partner believes that South and Southeast Asia provide attractive opportunities for private equity investing. The economies of our region have outperformed the US and Europe almost continuously for 30 years in terms of GDP growth. However, many of Navis’ target geographies are relatively immature, creating an underserved private equity market and leaving Navis with little competition. The pan-Asian and international funds with a focus on Asia have not been systematically creating deal flow in South and Southeast Asia to any large extent, instead targeting larger investments in North and East Asia (mainly Japan, Taiwan, mainland China and Korea).

Navis has one of the most established track records in Asian private equity. Since 2000, Navis has made investments in more than 60 acquisitions, of which 15 are follow-on acquisitions, yielding a return consistently in excess of the top quartile benchmarks in our industry.

As of end Q3/Q4 2011, Navis’ track record is as follows:

• Navis Asia Funds’ realised track record is a gross IRR of 35% and money multiple of 2.9x (as of September 2011)
• Navigator’s net NAV (after fees and expenses) CAGR since inception is 18.55% (as of December 2011)