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Eaton Partners serves as exclusive placement agent for USD545m pan-Asia PE fund

Eaton Partners has served as the exclusive placement agent for Asian private equity firm ADV Partners (ADV) on its inaugural pan-Asia fund, ADV Opportunities Fund I, exceeding its target to reach USD545 million. 

The fund is the fifth fundraising Eaton has closed this year in Asia, bringing the total amount raised for the region to more than USD3 billion. ADV was co-founded in 2013 by Brad Landes, Suresh Prabhala and Jianyi Zhu who worked together at Mount Kellett Capital and previously held senior management roles with the Asia principal investment platforms of JP Morgan and Goldman Sachs. The firm is headquartered in Hong Kong and has 20 professionals across its four regional offices. 

The newly-closed fund employs a value investment approach to private equity and looks to partner with entrepreneurs and management teams of mid-market companies across a range of industries. The fund invests in China and India as its main focus, with Southeast Asia and developed Asia/Australia as opportunistic markets.  

The fund has a globally diversified investor base including a sovereign wealth fund, a superannuation fund, multiple US state pension programs, fund of funds, endowments and family offices, and committed approximately 30 per cent of the total raised to date.

"Following a detailed exercise in landscaping regional managers, we concluded that ADV's unique yet proven strategy is well suited to capitalise on inefficiencies present in Asian markets," says Chris Lerner (pictured), Partner and Eaton's Head of Asia. "We worked hand-in-hand with the ADV team on the fundraise and are very proud of the outcome given 2014 and 2015 have been challenging fundraising years."

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