AltAssets – Baring Private Equity Asia has closed its fourth fund, Baring Asia Private Equity Fund IV, on $1.515bn, exceeding its original target of $1bn.
Fund IV will continue the firm’s strategy of investing in businesses in Asia with enterprise values of between $100m and $500m. The fund will target companies in the alternative energy, media, financial services, consumer and industrial sectors with operations in China, India, Japan, Singapore, Hong Kong, Taiwan and South East Asia.
Jean Eric Satala, founding partner and CEO, Baring Private Equity Asia, said, ‘Existing investors from our prior fund increased their commitment by 154 per cent to Baring Asia IV, and over 40 new institutional investors in the fund. We consider this particularly encouraging, given the current investment environment.’
Approximately half the investors came from North America, a quarter form Asia and a quarter from Middle East and Europe, according to the firm.
Existing investors including Pennsylvania School Employees Retirement System, Pantheon and Global Investment House reinvested in the new fund.
