Affinity reaches $2.5b second close on Fund IV
Affinity Equity Partners has reached a second close of $2.5 billion on its fourth Asia buyout fund. The private equity firm has been on the road for about nine months in what is a challenging fundraising market for Asian GPs, with just $17.3 billion raised in the first half of 2013, the lowest six-monthly level since 2009.
The fund, which reached a first close of $1.5 billion in March, has a hard cap of $3.5 billion. Its first investment came last week with the purchase of a majority stake in South Korean digital music platform...
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