KUALA LUMPUR, Nov 18 -- NewQuest Capital Partners (NewQuest), Asia’s leading secondary private equity firm, has announced the final close of its fourth dedicated secondary fund, NewQuest Asia Fund IV, L.P. (Fund IV or the Fund).
The Fund secured US$1 billion in total commitments, surpassing its initial target of US$850 million. (US$1 = RM4.15)
Fund IV increased its original hard cap of US$950 million to accommodate strong investor demand.
The investors include a diverse group of endowment funds, pension funds, sovereign funds, insurers, financial institutions and family offices across Asia, North America, Europe and the Middle East.
Fund IV’s close comes on the back of NewQuest’s prior fund, NewQuest Asia Fund III, L.P., being fully deployed.
The Fund’s close coincides with a continued, robust increase in demand for alternative liquidity solutions for private equity investments across Asia.
In addition, complex portfolio transactions, such as fund restructurings and spinouts, an area in which NewQuest also specialises, have become more prominent in the region.
Along with its announcement of the final close of Fund IV, NewQuest also announced that Nitin Agarwal has joined the firm as managing director, based in its Mumbai office.
-- BERNAMA
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