Private Equity News & Analysis

AIF rounds up $435m for Asia fund

The Hong Kong based, pan-Asia private equity firm found half of its new capital among European LPs.

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AIF Capital Asia has reached a final close on $435 million (€332 million) for its most recent pan-Asia private equity fund. The fund had a target of $350 million.

AIF Capital Asia III will focus on companies in China, India and elsewhere with enterprise values of between $50 million and $500 million. According to a statement, the firm has already made two investments, in China and India, respectively, from the new vehicle.

AIF Capital is based in Hong Kong, but has an additional office in New Delhi.

According to a professional at the fund’s placement agent BerchWood Partners, nearly 50 percent of the new capital in AIF Capital Asia III came from European limited partners. The fund also drew capital from Asia, the Middle East, Australia and the US.

The firm is led by its chief executive, Peter Amour, who joined AIF Capital in 1998 and has led the executive team since 2003. Amour formerly worked at Standard Charter Bank in Hong Kong.