By SIMON MARKS
The New York Times
PHNOM PENH — Douglas Clayton arrived in Phnom Penh in 2007 to start a private equity fund, looking to get $100 million in funds under management. His firm, Leopard Capital, started in 2008, is one of four private equity funds here backed by overseas investors, and the first to have completed an investment.
“Anyone can announce they want to start a fund, but getting investors to back you is a challenge,” Mr. Clayton, Leopard’s chief executive and managing partner, said in an interview. “All the groups that started here had no track record, including us. It’s a doubly hard story to sell.”
Mr. Clayton was drawn to Cambodia after experiencing years of double-digit growth in Thailand, where he worked for a hedge fund during the 1990s.
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