Thursday, 30 July 2015
Last updated 6 hours ago
May 19 2014 | 4:17pm ET
CVC has no problem garnering the US$3.5 billion it sought for its fourth Asia private-equity fund.
The London-based firm saw demand of US$5 billion for the vehicle, The Wall Street Journal reports. CVC closed the fund at the US$3.5 billion target it set when it began fundraising last summer.
CVC raised US$4.1 billion for its last Asia fund—now fully invested—five years ago. Investors were apparently undeterred by a US$1.4 billion loss suffered on Australia's Nine Entertainment last year.
The new fund plans to invest broadly across geographies and sectors, managing partner Roy Kuan told the Journal. "Our ideal diversification is one-third in Southeast Asia, another third in China, with Japan and Korea taking the remaining portion."
May 27 2015 | 2:15pm ET
Support Hedge Funds Care, also known as Help For Children (HFC), by participating in this year's raffle. All proceeds go to support HFC's mission of preventing and treating child abuse. Read more…