Indonesian private equity firm Saratoga Capital has listed an investment vehicle, Saratoga Investama Sedaya (SIS), on the Indonesia Stock Exchange, raising around US$151 million. The vehicle contains stakes in several of Saratoga Capital’s key holdings, including Adaro Energy and Tower Bersama Infrastructure. SIS sold 271 million new shares, representing approximately 10 percent of its post-issue share capital, at IDR5,500 per share (approximately US$0.54). The proceeds from the listing will be used to pay for additional future investments, and the vehicle will invest alongside the private equity firm’s Saratoga Asia III fund, which closed with US$600 million in capital commitments in 2012.