Indonesian billionaire Boy Garibaldi Thohir led a group including TPG Capital in buying a stake in PT BFI Finance Indonesia, a consumer lender, for about IDR1.44 trillion.
The Trinugraha Capital & Co. investor group, which also includes private equity fund Northstar EquityPartners, bought a 45 percent of BFI Finance.
Boy Thohir, 46 years old, is president director of Indonesia’s second-largest coal producer, PT Adaro Energy Tbk. His net worth of $1.45billion made him the 15 th richest person in Indonesia last year, according to Forbes Asia.
Boy Thohir made the Forbes list ofbillionaires for the first time in 2010 as shares of Jakarta-based Adaro, in which he owns 6 percent, jumped 47 percent. Boy Thohir plans to seek a seat on BFI Finance’s board following the purchase, according to the release. The company,which provides auto, motorcycle and heavy equipment loans,boosted profit by 20 percent to 362 billion rupiah last year.
Northstar Equity Partners is a fund under Northstar Pacific,a firm co-founded by Patrick Walujo, a former investment bankerat Goldman Sachs Group Inc. TPG, founded by Bonderman in 1992,has $48 billion of assets under management.
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