NewQuest Capital Partners, a Hong Kong-based direct secondaries firm, expects to hold a first close on a new secondaries fund in the first quarter, Secondaries Investorhas learned.
The firm is back in market seeking $500 million for NewQuest Asia Fund III and is expected to have raised more half of this in the next two months, according to a source familiar with the fundraising.
The fund was launched in the second half of last year and is being raised by UBS, according to another source. Regulatory filings show the vehicle is registered in the Cayman Islands.
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