Fund-of-funds
Franklin Templeton, Asia Alternatives to launch fund-of-funds
Franklin Templeton Investment and Asia Alternatives have agreed to form a joint venture that will provide bespoke global private equity fund-of-funds solutions.
Fund focus: Unicorn sticks to early-stage remit
China venture capital-focused fund-of-funds Unicorn Capital Partners raises $250 million with an eye on an increasingly challenging but rewarding early-stage technology space
Unicorn raises $250m for second China fund-of-funds
China-focused venture capital fund-of-funds Unicorn Capital Partners has closed its second fund at the hard cap of $250 million.
Indian government commits $29m to four GPs
The Indian government has committed INR2 billion ($29 million) to four domestic investment funds as part of its support for the entrepreneurial sector.
Outsourced CIO: Secret sauce
Teams spinning out from US endowments are competing in an increasingly competitive market for outsourced investment mandates from institutions. Scale and differentiation are the key selling points
Everbright forms China-focused JV with HQ
HQ Capital has joined Yuanju Capital, an affiliate of China Everbright’s asset management arm Everbright Financial Holding, to launch a wealth management platform aimed at the Chinese market.
China launches $4.6b technology-focused guidance fund
The Beijing government has launched a RMB30 billion ($4.6 billion) innovation-focused fund-of-funds that will not only make investments locally but also commit capital overseas with a view to bringing technologies to China.
AIIB approves $100m commitment to Indian sovereign fund
The Asian Infrastructure Investment Bank (AIIB) has approved a $100 million investment in the National Investment and Infrastructure Fund (NIIF), an Indian government-backed vehicle intended to mobilize investment in infrastructure.
LP interview: Hermes GPE
Hermes GPE has fine-tuned its co-investment strategy since establishing a presence in Asia. Iesan Tsai, the group’s regional head, will work with portfolio GPs or fund-less sponsors in pursuit of the right deal
HarbourVest closes flagship fund-of-funds at $1.7b
HarbourVest Partners has closed its latest fund-of-funds targeting European and Asian markets with $1.7 billion in commitments.
HarbourVest adds managing director in Hong Kong
HarbourVest Partners has promoted Till Burges, who covers primary investments out of the firm’s Hong Kong office, to managing director.
LP interview: CalSTRS
Christopher Ailman, CIO of California State Teachers’ Retirement System (CalSTRS) discusses fund sizes, the attractions and limitations of Asia, the problems of listed PE, and the need for fee reform
Q&A: HQ Capital's Georg Wunderlin & David Pierce
Georg Wunderlin, CEO of HQ Capital, and David Pierce (pictured), the firm’s Asia head, discuss investor appetite for private equity, the popularity of separately managed accounts, and consolidation within the industry
Adams Street opens South Korea office
Adams Street Partners has established an office in Seoul in an effort to expand access to clients and investment opportunities in the region.
Q&A: HarbourVest Partners' Brooks Zug
Brooks Zug, founder and senior managing director at HarbourVest Partners, was among the first institutional LPs to invest in Asian private equity. He spoke to AVCJ about the evolution of the industry
LP interview: Ardian
Ardian has raised large amounts of capital on the basis of a big-ticket secondaries strategy. Jan Philipp Schmitz, a managing director with the firm, discusses where investor demand is heading
Fund focus: Asia Alternatives in speedy fundraise
Asia Alternatives has secured $1.8 billion for its latest fund-of-funds in less than five months on the market
Asia Alternatives closes $1.8b fund-of-funds
Asia Alternatives has reached a final close of $1.8 billion across its fifth private equity fund-of-funds and a number of related vehicles.
NZVIF expands seed-stage mandate
The New Zealand Venture Investment Fund (NZVIF), a government-sponsored fund-of-funds, has doubled the investment cap of its seed-stage vehicle to NZ$1.5 million ($1.1 million) per company.
PennSERS commits $100m to Asia Alternatives
Pennsylvania State Employees’ Retirement System (PennSERS) has extended its long-standing relationship with Asia Alternatives, allocating $50 million to the firm’s latest fund-of-funds product and a further $50 million to a separate account.
PE increases share of $4t global alternatives pool - survey
Assets held by the world’s 100 largest managers increased 10% to $4.01 trillion in 2016 as growth in commitments to private equity, real estate, and credit more than offset a decline in hedge funds. Approximately 8% of these assets are invested in Asia...
Asia Alternatives gets $100m from Minnesota SBI
Minnesota State Board of Investment (SBI) has committed to $100 million to Asia Alternatives’ fifth fund-of-funds, having recently increased its exposure to the region through vehicles managed by Warburg Pincus and KKR.
Adveq agrees sale to Schroders
Adveq, a global fund-of-funds that deploys $100-200 million every year in Asia, has agreed to an acquisition by UK-listed asset manager Schroders.
Australia's Vantage achieves first close on fund-of-funds
Vantage Asset Management has reached a first close of A$20 million ($15.2 million) on its third Australia-focused fund-of-funds. The vehicle, which launched in February 2016, has an overall target of A$100 million.
