NewQuest, backed by PE consortium, acquires BoaML Asia’s non-real estate assets
A newly launched fund managed by NewQuest Capital Partners, backed by a consortium consisting of Paul Capital, HarbourVest Partners, LGT Capital Partners and Axiom Asia, has acquired “substantially all” of Bank of America Merrill Lynch’s (BoaML) non-real estate private equity portfolio in Asia.
The value of the BoaML portfolio was not disclosed, though sources close to NewQuest confirmed to AVCJ that the outfit's new fund - the NewQuest Asia Fund I, L.P. - has $400 million worth of commitments....
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