Equis closes first fund at $647m
Equis Funds Group, a pan-Asian fund manager focused on Asian energy and infrastructure, has closed its first private equity fund - Equis Asia Fund I - at $647 million, exceeding its initial target of $500 million.
Investors in the new vehicle include endowments, insurance companies, pension and superannuation funds and multilaterals. MVision served as placement agent, while SJ Berwin acted as legal counsel during the fundraising.
"We have been fortunate to form a partnership with some of the largest endowments, pension funds and financial institutions in North America, Europe and Asia with strong energy and infrastructure investment pedigrees, a testament to the merits of alignment through the independent manager model and Equis' unique strategy of Asian energy and infrastructure investment" said David Russell, CEO of Equis Funds Group.
The fund has already made two investments: a South‐East Asian solar generation platform and a hydroelectric generation platform in India. It is also finalizing its third and fourth investments, which are expected to complete in early 2013.
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