Clearwater raises $200m, targets $900m for Asia fund
Clearwater Capital Partners has so far raised $200 million for its fourth Asia ex-Japan fund, which will target special situations investments in public and private debt and equity. The company is aiming for a final close of around $900 million, a source familiar with the situation told AVCJ.
Clearwater Capital Partners III closed in July 2007, also at $900 million, $200 million over its initial fundraising target. Its investments include GSS America Infotech, an IT consulting and software development firm, and Oricon Enterprises, which has interests in real estate and logistics, according to AVCJ Research.
Speaking to AVCJ earlier this year, Clearwater Managing Director Robert Petty stressed that the sheer size of Asia's debt market is bound to uncover companies that "may not have it done it perfectly," thereby creating openings for distressed asset investors.
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