Asia Alternatives raises $1.4bn

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Asia Alternatives Management has raised $1.4 billion to date for its Asia Alternatives Capital Partners Fund V, per a SEC filing. The San Francisco-headquartered firm has set a $1.3 billion target and began fundraising in 2017. The SEC filing did not disclose whether the capital raise constituted a final or interim close.

Its previous fund raised $1.8 billion in 2015.

Investors that committed to Asia Alternatives Capital Partners Fund V include the Minnesota State Board of Investment and the University of Vermont.

The fund will target private equity fund opportunities in a diverse number of sectors in the Asia-Pacific.