Actis collects at least $745.5m for fourth fund

The emerging markets specialist is targeting $3.5bn for its Actis Global 4, which will invest in mid-market deals in Asia, Latin America and Africa.

Actis has raised at least $745.5 million for Actis Global 4, according to a document filed last week with the US Securities and Exchange Commission. 

A separate filing for “Actis Global 4 A” indicated that the firm had raised an additional $177.5 million. It is unclear whether the fundraising total in that filing counts towards Actis Global 4’s $3.5 billion target. 

The firm did not respond to a request for comment at press time. 

FAP USA is listed as an associated broker or dealer on both funds. 

Actis Global 4 will make between 35 and 40 investments, committing between $50 million and $300 million per deal for minority and controlling stakes in companies, according to Pennsylvania Public School Employees’ Retirement System documents. Actis will invest approximately 50 percent of the fund in Asian companies, with remaining capital to be put to work in Latin America and Africa. 

The firm will target mid-market companies in the consumer, financial services, business services, industrial and energy sectors, according to PSERS documents. 

Actis spun out of UK development finance institution CDC in 2004. The firm manages approximately $5 billion across 105 investments.

Last month, the firm exited its stake in Chinese restaurant chain Xiabu Xiabu to General Atlantic for an undisclosed amount. Over the course of its investment, Actis helped the company develop a strategic plan and improve operations and talent, according to a statement from the firm.