Permavest closes USD63m private equity fund of funds

According to Permavest, the private equity fund has been created to offer clients access to leveraged buyout and venture capital partnerships active in Chinese markets. ‘The Asia-Pacific region is a growing focus of our investment banking and capital markets efforts,’ says Richard Lai, the firm’s co-head of investment banking.

‘The success of our private equity fund of funds is further evidence of our ability to meet the needs of our clients and gain their trust. Our main focus is on portfolio diversification, investment transparency, liquidity and the potential for consistently strong returns with significantly less risk when compared to a single private equity partnership.’

Permavest says the closing will pave the way for the launch of a fresh round of fundraising to be announced during the second quarter for a fund that will seek to take advantage of leading-edge research across multiple markets.

‘It has become evident that funds should not rely on bonds and equities alone to deliver consistent returns to meet the long-term promise to members, while simultaneously reducing the burden on the sponsor,’ says fund manager Alan Siu Fai.

‘Adding commodities and hedging on forex movements is especially effective at diversifying a fund’s investments and counterbalancing equity volatility, but potentially capturing high returns.’

Permavest Investment is a non-bank affiliate of Amerex Investment that develops and manages proprietary investment products that complement core individual portfolios, including listed private equity vehicles. Amerex is a provider of institutional financial services in Hong Kong and the Asia-Pacific region.