Affinity Equity Partners, a private equity firm based in Hong Kong, has recently completed two significant acquisitions in Southeast Asia, totaling approximately $1.65 billion, as disclosed by reliable sources familiar with the transactions, as reported by Reuters 

One of the acquisitions involves Yupi, a prominent gummy candy manufacturer based in Jakarta, Indonesia. Established in 1996, Yupi has gained recognition as a leading producer of gummy candies in Asia, with its products distributed across more than 50 countries, as stated on the company's official website.

The acquisition of Yupi was made directly from the company's founders, as confirmed by one of the sources.

Additionally, Affinity purchased Golden Fresh, a major seafood processing company in Malaysia, for $450 million, according to one source and a third individual with knowledge of the situation. Golden Fresh, founded in 1989, operates out of Penang.

Reuters was unable to ascertain the identities of the sellers of Golden Fresh at this time.

These acquisitions are expected to position Affinity to benefit from the robust economic growth potential in Southeast Asia, as per one of the sources.

The sources requested anonymity due to the confidential nature of the discussions. Affinity, Yupi, and Golden Fresh did not provide comments when approached.

These transactions represent a positive development in the Southeast Asian deal-making landscape. According to a report by the Boston Consulting Group, the total deal value in the region has decreased by half in the first nine months of this year compared to the same timeframe last year, with only four transactions surpassing the $1 billion threshold.

However, the report suggests that mergers and acquisitions activity may rebound, driven by the region's strong economic outlook and corporate initiatives to enhance digital capabilities.

Affinity, established in 2002 by former UBS banker Tang Kok-Yew, manages $14 billion in assets across the Asia Pacific region. The company has made 58 investments in 11 countries, as outlined on its official website.

In September, a consortium led by Affinity successfully divested Island Hospital in Malaysia to IHH Healthcare, a prominent regional healthcare group. The transaction was valued at 4.2 billion ringgit (approximately $940 million).

Furthermore, in April, Affinity strategically exited its remaining 17.1% stake in Industri Jamu dan Farmasi Sido Muncul, an Indonesian herbal medicine company. The divestment was made to the controlling Hidayat family for a consideration of $233 million.