Baring Private Equity Asia closes $2.4 billion fund
Hong Kong-based private equity firm Baring Private Equity Asia has closed its fifth fund at $2.46 billion - 60% larger than its previous fund that closed at $1.52 billion in February 2008.
According to the firm, the Baring Asia Private Equity Fund V will follow Baring's existing investment strategies and will target growth opportunities in SMEs in Asian markets such as Greater China, India, Japan, Singapore, South Korea and South East Asia. Baring will specifically look at companies seeking capital for expansion, recapitalization and acquisitions.
The Baring Asia Private Equity Fund V, L.P., is touted as the largest PE fund launched in Asia since the GFC, and claims more than 30 new institutional investors. "We sensed from LPs around the world that, although Asia is at the top of many people's lists for new private equity commitments, post financial crisis they are more focused than before on investing with firms that are established and that have been tested in difficult markets," Jean Eric Salata, the Hong Kong based Founding Partner and CEO of Baring Asia, said in a statement.
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