Navis Capital Partners

What Navis Capital Partners does

Navis Capital Partners is a Kuala Lumpur-founded, Singapore-domiciled private equity firm established in 1998 by former Boston Consulting Group executives Richard Foyston, Dato' Sri Nicholas Bloy and Rodney Muse. The firm invests as a strategic control investor in mid-market companies with enterprise values of US$30 million to US$500 million, primarily across Southeast Asia and adjacent geographies (Australia, New Zealand, Hong Kong and select India deals), having completed 95+ controlling investments across its eight flagship Navis Asia Funds (with the successor Navis Next Generation Fund closed in April 2025).

The firm's core product is its flagship private equity fund series, but it has expanded into adjacent strategies: Navis Asia Credit (a private credit direct-lending platform launched July 2022 and classified as SFDR Article 8), the Navis Jockey Fund and Navis Al-Bahhar Fund (listed-equity vehicles investing in PE-backed Asian listed equities), and the newly launched Navis Decarbonization Fund I (March 2026). All strategies are supported by the Operational Value Creation (OVC) group — described by the firm as the largest in Southeast Asia — providing portfolio companies with strategic, operational, IT/digital transformation, ESG, human capital and internal audit support. The firm is differentiated by a long-tenured founding partner team (still involved in Investment Committee decisions), deep local coverage via seven regional offices, an ESG framework in place since 2004, and consistent top-quartile fund returns.

Navis generates revenue through traditional private equity economics: management fees on committed/invested capital across its fund vehicles plus performance-based carried interest from exits (predominantly to trade buyers, e.g., SK ecoplant for TES-AMM in 2022, Azenta for B Medical Systems in 2022, Pacific Equity Partners for Modern Star in 2020, and more recently CP Axtra for TFP Retail at MYR 1.7bn / ~US$420.9mn announced in 2026). Capital is raised globally from institutional LPs (consultants, pension funds, insurers, family offices) by a dedicated capital formation team headed by Mili Mills; over a quarter of AUM represents proprietary capital. The firm does not publicly disclose management fee rates or carry terms.

Name

Navis Capital Partners

Legal name

Navis Capital Partners

Website

http://naviscapital.com

Company type

Private

Founded year

1998

Operating status

Operating

Headcount range

51–100 employees

Short description

Navis Capital Partners is a 1998-founded, Southeast Asia-focused private equity firm managing ~US$5 billion across eight flagship PE funds plus private credit (Navis Asia Credit), listed equity, and a new Decarbonization fund, investing as a strategic control investor in mid-market companies (US$30M–US$500M EV) and supporting them via the region's largest in-house Operational Value Creation group.

Ownership category

akta.pro rank

Headquarters

HQ city

Kuala Lumpur

HQ country

Malaysia

HQ region

Asia

Offices7 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure

Revenue model

1. Private Equity Management Fees & Carried Interest: Navis raises and manages eight flagship private equity investment funds, six of which are now entirely or largely realized. Revenues are generated through management fees on committed/invested capital and performance-based carried interest from exits, with exits predominantly to trade buyers.
2. Navis Asia Credit — Private Credit Direct Lending: Navis Asia Credit performs direct mid-market lending to high-quality businesses across Southeast Asia, providing flexible, non-dilutive credit capital for business expansion, acquisitions, or operations. Revenue is generated through interest income, structuring fees, and associated returns. Classified as SFDR Article 8.
3. Public Equity Funds (Navis Jockey Fund & Navis Al-Bahhar Fund): Navis manages two public equity funds with strong linkages in geography and investment philosophy to its private equity activities. Over a quarter of the funds under management represents proprietary capital. The Navis Jockey Fund targets listed equities of PE-backed Asia Pacific companies; the Navis Al-Bahhar Fund invests in Shariah-compliant listed equities. Revenue from management fees and performance fees.

Pricing tiers

Go-to-market motion3 records

Distribution channels4 records

Marketing channels6 records

Core offering

Navis Capital Partners is an independent private equity firm that raises and manages institutional capital through its flagship Navis Asia Fund series (eight funds to date, including the Navis Next Generation Fund) and uses that capital to acquire controlling stakes in mid-market companies (US$30M–US$500M enterprise value) across Southeast Asia and adjacent geographies. Around this core, it runs Navis Asia Credit for direct private credit lending, the Navis Jockey Fund and Navis Al-Bahhar Fund for public-equity strategies, and the new Navis Decarbonization Fund I for climate investments, all supported by an in-house Operational Value Creation (OVC) team.

Product overview

Navis Capital Partners operates as a multi-strategy private capital platform rather than a single software product. Its core offering is the Navis Private Equity flagship fund series (now spanning eight vehicles through to the Navis Next Generation Fund closed in April 2025), through which it has executed 95+ controlling investments in mid-market companies across Southeast Asia. Around this core, Navis has built three adjacent capabilities: (1) Navis Asia Credit, a private credit direct-lending platform launched in 2022 offering flexible non-dilutive financing to mid-market borrowers; (2) the Navis Jockey Fund and Navis Al-Bahhar Fund, which are public equity vehicles applying a private-equity-style approach to listed Asia-Pacific companies; and (3) the newly launched Navis Decarbonization Fund I, a thematic climate strategy. All strategies are underpinned by Navis's in-house Portfolio Operations group, the largest operational value-creation team in Southeast Asia, which delivers strategic, operational, ESG, human-capital and IT support to portfolio companies.

Differentiator

Problem solved

Functional benefit

Brands

• Navis Jockey Fund: Concentrated portfolio of listed equities where reputable private equity firms own a meaningful stake, focused on Asia Pacific.
• Navis Al-Bahhar Fund
• Navis Asia Credit
• Navis Next Generation Fund

Products and services

• Navis Private Equity (Navis Asia Funds) Flagship private equity fund series investing in controlling stakes in mid-market companies across Southeast Asia and adjacent geographies, typically with enterprise values of US$30 million to US$500 million; for institutional limited partners.
• Navis Asia Credit (Private Credit) Private credit direct lending platform providing flexible non-dilutive financing solutions to high-quality mid-market companies across Southeast Asia for business expansion, acquisitions or operations; classified as SFDR Article 8.
• Navis Jockey Fund Listed-equity fund applying a 'private equity approach' by investing in Asia-Pacific listed companies that are portfolio companies of reputable private equity or venture capital firms; targets top-quartile private equity returns with public-market liquidity.
• Navis Al-Bahhar Fund Shariah-compliant listed-equity fund investing in Asian businesses with strong governance and growth characteristics where reputable private equity firms hold meaningful equity stakes; benchmarked against a 50/50 blend of the MSCI AC Asia Islamic and MSCI China Islamic indices.
• Navis Decarbonization Fund I Thematic climate-focused private equity fund targeting investments in climate solutions in Southeast Asia, supported by an Environmental and Social Management System (ESMS) Manual available in five regional languages.
• Navis Next Generation Fund (NNGF) Successor flagship private equity fund of Navis Capital Partners (the ninth flagship fund vehicle raised by Navis), continuing the firm's strategy of controlling investments in mid-market companies across Southeast Asia and adjacent geographies.

Quantifiable outcome

• USD 5 billion in total private capital commitments
• +8 more outcomes

Named customers2 records

Segments5 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

13 partnerships are on record, tiered minor and core.

• Coats GroupminorStrategic or Co-development PartnerCoats Group plc acquired Texon (Navis portfolio company, a global leader in footwear structural components) in 2022 as an exit transaction. Texon provides sustainable structural solutions to the premium athleisure footwear market. This is an exit/sale-side relationship (Them to Us as the acquirer; We to Them from Navis as seller).
• TOPPAN SecurityminorStrategic or Co-development PartnerTOPPAN Security acquired dzcard Group from Navis Capital Partners (announced 4 June 2025). An exit transaction for a Navis portfolio company.
• SK ecoplantminorStrategic or Co-development PartnerSK ecoplant acquired TES (TES-AMM) from Navis in 2022, ending an 8-year partnership during which TES repositioned from an Asia-focused e-waste recycler to a global sustainability solutions provider with 43 facilities in 21 countries.
• Pacific Equity PartnersminorStrategic or Co-development PartnerPacific Equity Partners acquired Modern Star from Navis in late 2020 at an Enterprise Value of over A$600 million, with key senior management reinvesting.
• CP AxtraminorStrategic or Co-development PartnerCP Axtra, through its subsidiary Lotuss Stores Malaysia, agreed to acquire 100% of TFP Retail (The Food Purveyor) from Navis Capital, Foodshop Capstone, and minority shareholders for MYR 1.7bn (USD 420.9mn). Deal expected to close by Q4 2026 subject to regulatory approvals.
• Gilbert + TobinminorImplementation/ SI/ Consulting PartnerGilbert + Tobin advised on the sale of a majority stake in Caring Group (Australian in-home and clinical care provider) to Navis Capital (2023). Law firm acting on transactions involving Navis.
• United Nations Principles for Responsible Investment (UN PRI)coreStrategic or Co-development PartnerNavis is a signatory to the United Nations-backed Principles for Responsible Investment (UN PRI), with the firm's ESG framework aligned to PRI standards. Senior Partner Michael Octoman was a former member of the UNPRI PEAC committee.
• International Finance Corporation (IFC)coreStrategic or Co-development PartnerNavis is an Invest2Equal partner in IFC's program bringing together fund managers to make measurable commitments to increase gender diversity within their firm and/or investment processes.
• Global 2X ChallengecoreStrategic or Co-development PartnerNavis is a Global 2X Challenge Partner, an initiative that provides women in developing countries improved access to leadership opportunities, quality employment, finance, and products and services that enhance economic participation.
• IFRS Sustainability AllianceminorStrategic or Co-development PartnerNavis is a member of the IFRS Sustainability Alliance and is adopting ISSB Guidelines by 2025, with its Climate Risks and Opportunities Policy aligned to ISSB S1 and S2.
• ESG Data Convergence InitiativeminorStrategic or Co-development PartnerNavis participates in the ESG Data Convergence Initiative, a collaborative effort among PE GPs to standardize ESG data reporting.
• Singapore Venture Capital Association (SVCA)coreStrategic or Co-development PartnerNavis is part of the Singapore Venture Capital and Private Equity Association (SVCA) ESG and Impact Committee and has received multiple SVCA awards including ESG Award of Distinction (2023, 2020) and PE Exit of the Year (2022).
• BlackRockminorStrategic or Co-development PartnerJustin Ferrier, now Managing Partner of Navis Private Credit, was previously a Managing Director at BlackRock where he played a pivotal role in building BlackRock's Asia-Pacific Private Credit business. Prior employment / talent relationship rather than an active commercial partnership.

Scale indicators9 records

Recent moves12 records

Expansion highlights6 records

Direct peers

• Creador: Creador is a Southeast Asia-focused mid-market private equity firm founded in 2011 by Navis alumnus Brahmal Vasudevan. It pursues a control-oriented buyout strategy in similar enterprise value ranges across Malaysia, Indonesia, Vietnam, Thailand and the Philippines - the most direct competitor to Navis's flagship strategy.
• Affinity Equity Partners: Affinity is a Hong Kong and Seoul-based mid-to-large market PE firm investing across North Asia and Southeast Asia with comparable control buyout approach. It targets similar mid-market enterprise values and competes directly with Navis for larger deals in the region.
• MBK Partners: MBK Partners is the largest homegrown PE firm in North Asia with a control-buyout strategy across Korea, Japan, China and selected SE Asia deals. Founded in 2005, MBK has raised five flagship funds and competes with Navis for cross-border mid-market transactions.
• Quadria Capital: Quadria Capital is a SE Asia-focused healthcare specialist PE firm investing in mid-market healthcare companies across the region. It directly competes with Navis's healthcare deals (B Medical Systems, Aurelius Healthcare, Hanoi French Hospital, Caring Group, S-Spine and Nerve Hospital).
• Olympus Capital Asia: Olympus Capital is a New York and Asia-headquartered PE firm focused on mid-market control investments across China, India and Southeast Asia. It targets similar enterprise value ranges and has overlapping sector coverage in healthcare, consumer and business services, making it a direct comparability for Navis.
• Northstar Group: Northstar Group is a Jakarta-headquartered PE firm investing in Indonesian and SE Asian mid-market companies with control stakes. Founded by former bankers and PE professionals, it pursues a similar enterprise value band and competes with Navis for Indonesian deals including CarDekho SEA.

Broad incumbents

• KKR Asia: KKR is a global alternative asset manager with a large Asia-Pacific PE franchise that competes with Navis for larger mid-market control deals across SE Asia. KKR's Asia private equity platform and broader capital base make it a broad incumbent competitor overlapping with Navis on certain upper-mid-market deals.
• Bain Capital Asia: Bain Capital operates a significant Asia private equity practice investing in mid-to-large market control transactions across the region. As a global incumbent, Bain Capital overlaps with Navis at the upper end of Navis's mid-market deal range and competes for Southeast Asia transaction flow.
• Carlyle Asia Partners: Carlyle's Asia Partners funds invest across Greater China, India, Japan, Korea and SE Asia with control-buyout mandates. As a global incumbent, Carlyle overlaps with Navis for larger mid-market deals in the region, particularly consumer, healthcare and financial services.

Regional players

• Partners Group: Partners Group is a Switzerland-based global private markets firm with significant direct investing activity across Asia, including SE Asia. It competes with Navis for both mid-market buyouts and co-investment opportunities, and previously bought Navis-exited Trimco in 2012.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/navis-capital-partners/?originalSubdomain=my

Compliance9 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles10 records

Subsidiaries7 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A55 records

Investments57 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Navis Capital Partners