Headland to target $1.25bn

The Hong Kong-based spinout from HSBC expects to raise its seventh fund later this year – its first as an independent shop.

Headland Capital Partners intends to raise Fund VII with a target of $1.25 billion in late 2013, according to a source close to the matter. 

The firm would not comment on fundraising.

However, in a past interview with Private Equity International, chairman George Raffini said a new fund was under consideration for late 2013 or early 2014.

Fund VI, a $1.34 billion regional fund with a 2008 vintage, is expected to be 75 percent invested by the end of 2013, PEI reported earlier.

Headland is a mid-market, pan-regional firm that invests in China, Southeast Asia and Korea. One of Asia’s few veteran private equity firms, Headland started investing in 1989 as part of HSBC. In 2010, the firm spun out of the bank.

Fund VII will be its first fundraise as a standalone entity.

Based in Hong Kong, Headland Capital Partners has $3.35 billion in assets under management, according to PEI’s Research & Analytics division.