Asia Alternatives LLC Said To Be Prepping $1.5B Fifth Fund For October Close

Aug 29 2017 | 10:22pm ET

San Francisco-based fund manager Asia Alternatives Management LLC is reportedly on track to close its fifth private equity pool in October with around $1.5 billion in capital commitments. 

The new fund, named Asia Alternatives Capital Partners V, will concentrate on opportunities Greater China, Japan, South Korea, India, Southeast Asia and Australia, according to an article in Deal Street Asia. The new fund is the latest in a line of recent multi-billion-dollar PE efforts in the region, including KKR’s giant $9.3 billion Asian Fund III and TPG’s planned $4.5 billion seventh Asia-focused vehicle. 

Fund V has already raised $1.35 billion from more than 160 investors, the article continued, with Eaton Partners acting as placement agent. LP’s reportedly include the San Francisco Employees Retirement System and the Pennsylvania State Employees’ Retirement System. 

The new fund will reportedly contain of a mix of private equity segments, with up to 85% allocated to primary investments and up to 30% to direct co-investments and secondaries. It will target expansion and growth capital opportunities with around 40% of the capital, 30-40% in middle-market buyout opportunities, 15-20% in venture, and 10-20% in special situations funds, Deal Street Asia continued. Known primarily as a private equity funds of funds manager, Asia Alternatives is considering allocating the new capital across 20 managers.

Asia Alternatives raised $1.8 billion for its fourth fund in April 2015, and $908 million for Fund III in July 2012. Founded in 2005, the company has approximately $9 billion in regulatory assets under management deployed across private equity fund managers in mainland China, Taiwan, Hong Kong, Japan, Korea, South East Asia, India and Australia.

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