CCMP Capital Asia, which spun out of JPMorgan Partners three years ago, will be known as Unitas Capital from 30 January 2009 when it ends its affiliation with fellow JPMorgan spin-out CCMP Capital Advisors.
“The decision to finally separate formalises what has been a natural evolution,” CCMP Capital Asia said in a statement. The two groups have maintained an association over the past three years, but have kept operations and fundraising activities separate in their respective regions, it added.
CCMP Capital Asia Opportunity Fund III recently held a final close on $1.2 billion, short of the initial target of $2.5 billion set when the fund launched in April 2007. However, the firm's managing partner and chief executive, Andrew Liu, said in a statement today: “The fact we were able to close our third fund amidst the current market conditions is indicative of the confidence our core blue chip investor base has in the firm.”
Returning investors in the fund included Goldman Sachs Private Equity Partners Asia, Ohio Public Employees' Retirement System, Ontario Teachers’ Pension Plan, Pantheon Ventures, Partners Group, SEB, State of Michigan Retirement System, The State of Oregon and Washington State Investment Board.
New York-based CCMP closed its second fund on $3.4 billion in October 2007.
CCMP Capital Asia could not immediately be reached for comment.