Hong Kong-based Permavest Investment has closed on a new private equity fund of funds with US$63 million in capital commitments. Raised from high net-worth clients spanning the Asia-Pacific region, the fund was created to provide investors access to leveraged buyout and venture capital partnerships in major Chinese markets.

“It has become evident that funds should not rely on bonds and equities alone to deliver consistent returns in order to meet the long term promise to members,” said Alan Siu Fai, fund manager. “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 Co., a provider of customized institutional financial services for the Asia Pacific region