Asia Alternatives Holds Final Closing On $515M FOF

May 15 2007 | 2:40pm ET

Hong Kong and San Francisco–based Asia Alternatives, an private equity fund-of-funds shop, recently held a final close on its Asia Alternatives Capital Partners. With US$515 million in committed capital, the fund was oversubscribed and closed well above its original target of $350 million, according to the firm.

Investors in the offering include notable pension funds such as the California Institute of Technology and the California Public Employees' Retirement System as well as other state and corporate pension funds, foundations, university endowments, insurance companies and family offices in the United States, Canada, Europe and Asia.

The fund will invest in local Asian fund managers with a geographic focus of Greater China, Japan, Korea, India, Southeast Asia, Australia and New Zealand. It is currently invested with more than 10 managers.

Melissa Ma, co-founder and managing director of Asia Alternatives, stated: “We see a tremendous number of opportunities in the Asian private equity space and are excited to invest in such an active and evolving market.”

C.P. Eaton Partners acted as exclusive placement agent for Asia Alternatives, and Pillsbury Winthrop Shaw Pittman LLP served as legal counsel.

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