Baring Private Equity raises $1.52 billion in largest regional growth equity fund in Asia

14 May 2008

Mumbai: Baring Private Equity Asia today announced the closing of The Baring Asia Private Equity Fund IV, L P, a private equity fund totaling US$1,515,000,000 making it the largest regional growth equity fund ever raised for Asia.

The PE now has $2.5 billion in assets under advisory.  The Fund, which had an original target of $1 billion, was heavily oversubscribed and had to raise its hard cap fundraising limit to account for high investor demand and still turned away a substantial amount of investor demand.

Baring Asia is one of the oldest and well established private equity investors in Asia, having begun investing in the region in 1997. Since its inception, Baring Asia has made investments with transaction values totaling $2.8 billion in over 50 companies.

Its last fund, Baring Asia III, is the top performing fund of its vintage in Asia, with a net IRR to investors of 126 per cent as of 31 March.

Baring Asia says Fund IV will deploy the same investment strategy targeting growing businesses in Asia with enterprise values between $100 million and $500 million that require capital for expansion, recapitalisation or for pursuing M&As.

The fund will target companies in the alternative energy, media, financial services, consumer and industrial sectors with operations in China, India, Japan, Singapore, Hong Kong, Taiwan or South East Asia.