Asia Alternatives, a large independent Asian private equity fund-of-funds, has announced the final close of over US$1.8 billion in new commitments across Asia Alternatives Capital Partners V, LP and several fund vehicles.

The funds are focused on building a diversified Asia private equity portfolio with an emphasis on top-performing local Asian fund managers. Approximately 85% of committed capital came from pre-existing relationships.

The largest of the funds is Asia Alternatives Capital Partners V, LP which, along with its parallel fund, Asia Alternatives Capital Partners V (ERISA), LP, closed on US$1.515 billion of committed capital, exceeding their combined target of US$1.3 billion.

Rebecca Xu, co-founder and managing director of Asia Alternatives, says, “Asian private equity opportunities represent an increasingly attractive way that investors can achieve return and portfolio diversification. Our local knowledge and on-the-ground presence in Asia allows us to capitalize on the continuously evolving Asia private equity ecosystem in order to maximize risk-adjusted returns for our investors.”

Photo: asiaalt.com