Capital International Closes $3B P.E. Fund

May 10 2012 | 9:47am ET

San Francisco-based Capital International Private Equity Funds has closed its latest private equity fund at $3.0 billion, well in excess of its $2.5 billion target.

The Capital International Private Equity Fund VI secured commitments from more than 60 institutional investors, including the Ohio Public Employees Retirement System, the Oregon Public Employees Retirement Fund and the Pennsylvania Public School Employees' Retirement System. The firm reports a 90% recommitment rate among existing CIPEF investors with active p.e. allocations.

The new fund will target 15-20 investments and plans to focus on 16 emerging markets. To date, CIPEF has committed nearly 20% of capital from CIPEF VI into several investments including: Eaton Towers, a pan-African telecom tower development and management company and L&T Financial Holdings Limited, India’s rapidly growing equipment and infrastructure finance affiliate of Larsen & Toubro, the country’s largest private sector engineering and construction company.

“We have worked to methodically build a deeply experienced team with a strong track record in emerging markets private equity,” said Koenraad Foulon, CIPEF co-founder and senior managing partner. “We are thankful for the strong support from our investors in today’s challenging fundraising market and believe that CIPEF VI is optimally sized to allow investment in the current generation of compelling emerging market investment opportunities in local, leading companies and franchises.”

MVision Private Equity Advisers served as the exclusive global placement agent and strategic advisor and Debevoise & Plimpton served as legal counsel.



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