Baring Private Equity Asia Raises US$1.5B Fund

May 13 2008 | 2:21pm ET

Baring Private Equity Asia has closed its latest offering, The Baring Asia Private Equity Fund IV, at US$1.5 billion. The fund had an original target of US$1 billion.

Fund IV will target Asian companies in the alternative energy, media, financial services, consumer and industrial sectors with enterprise values between US$100 million and US$500 million that require capital for expansion, recapitalization or for M&A purposes.

“At a time when highly leveraged U.S. and European buyouts are starting to show signs of stress, private equity funds focused on growth investing in Asia, a strategy which largely does not use financial leverage, are continuing to attract interest from around the world,” said Jean Eric Salata, the Hong Kong-based founding partner of Baring Asia.

Public pension investors in the new fund include Pennsylvania Public School Employees Retirement System and the Ontario Municpal Employees Retirement System.

Gordon Shaw, a managing director based in Shanghai, added that the firm could have raised substantially more capital, but decided to size the fund to target mid-sized growth equity deals, which in its opinion is where the best investment opportunities are today, particularly in China.

Baring Asia began investing in the region in 1997 and currently manages US$2.5 billion in total assets.

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