Asia Alternatives, one of the largest independent Asian private equity fund-of-funds, has held the the final close of of new commitments across Asia Alternatives Capital Partners VI, LP and several fund vehicles at a combined USD2 billion.
Asia Alternatives, one of the largest independent Asian private equity fund-of-funds, has held the the final close of of new commitments across Asia Alternatives Capital Partners VI, LP and several fund vehicles at a combined USD2 billion.
The Funds are focused on building a diversified Asia private equity portfolio with an emphasis on top-performing local Asian fund managers.
Over 85 per cent of the committed capital came from pre-existing relationships.
Institutional investors across the Funds include The Boeing Company, Cathay Life Insurance Co, Comprehensive Financial Management, The Dai-ichi Life Insurance Company, Limited, Florida State Board of Administration, Intermountain Healthcare, Jasper Ridge Partners, Maryland State Retirement and Pension System, Massachusetts Mutual Life Insurance Company, McKnight Foundation, Minnesota State Board of Investment, New York State Common Retirement Fund, Public Schools Retirement System of St Louis, San Francisco City and County Employees’ Retirement System, and Virginia Retirement System.
The largest of the Funds is Asia Alternatives Capital Partners VI, LP which, along with its parallel funds (together AACP VI), closed on USD1.1 billion of committed capital, exceeding the combined target of USD1 billion. AACP VI is the successor fund to Asia Alternatives Capital Partners V, LP (AACP V), which closed in September 2017.
Earlier funds include Asia Alternatives Capital Partners IV, LP (AACP IV), which closed in April 2015, Asia Alternatives Capital Partners III, LP (AACP III), which closed in July 2012, Asia Alternatives Capital Partners II, LP (AACP II), which closed in September 2008, and Asia Alternatives Capital Partners, LP (AACP I), which closed in May 2007.
