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APAC FUND MANAGER GUIDE 2016
July/August 2016 privateequityinternational.com
2016 APAC FUND MANAGER'S GUIDE
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APAC FUND MANAGER GUIDE 20162016 APAC FUND MANAGER’S GUIDE
What LPs wantWelcome to the 2016 APAC Fund Manager’s Guide, compiled by the Research and Analytics team at PEI.
Private equity in the Asia-Pacific region is maturing; the region is now replete with
fund managers variously offering size, scale or specialist focus.
This guide is compiled by our analysts using a similar methodology to our various global fund manager rankings, such as the PEI 300: it measures the amount of private equity capital raised over a period of five years. This gives us the best view of which managers have the most ‘heft’ in the market at any one time in terms of capital to invest (and ignores any invested legacy funds that boost headline AUM figures but don’t speak to the firm’s current influence).
The region’s private equity powerhouse – China – continues to attract capital in meaningful quantities from institutional investors around the world. It is home to almost half of the 100 largest private equity managers in the region. These firms – as with those based elsewhere in the region – have successfully persuaded limited partners that they have the necessary qualities to invest their capital for the long term. So what does it take for an APAC manager to raise money?
As Doug Coulter, a partner at Swiss-based investor LGT Capital Partners said at an event in Hong Kong this year, it takes good returns, a deep bench and a focus on institutionalisation, governance and transparency.
“In China historically, we’ve seen a lot of high-profile firm leaders and charismatic individuals who raise funds among themselves, but sometimes don’t share the economics that broadly; that’s led to team instability over time,” Coulter said. “It’s good to have charismatic firm leaders, but how good is the next level of employees down?”
These thoughts were echoed by John Huo, director of private equity of Manulife Financial, who, at the same event, said his firm looks for team stability, evidence of a real succession plan, as well as its ability to evolve with the market.
“China’s a very fast developing environment from a political, regulatory and economic standpoint. It’s critical that teams are able to evolve and to learn from their mistakes – that’s one of the core things that we look for when we talk to GPs.”
There are 15 managers in the directory headquartered outside of the Asia-Pacific region – and three in the top 10. Clearly the opportunities in the region are compelling enough to warrant major investment in building infrastructure and raising dedicated vehicles by global managers. However, the fact that these global ‘mega brands’ do not dominate the top end – the top four managers are home-grown in either mainland China or Hong Kong – is telling: LPs value the local heritage. Those firms that can combine this with the institutional strengths that LPs desire have a recipe for great success.
We hope you find the intelligence in this guide useful.
The PEI team
PEI Research & AnalyticsDan GunnerDirectorT: +44 20 7566 5423 E: dan.g@peimedia.com
Shawn WangResearch Manager+852 2153 3247shawn.w@peimedia.com
Daniel Humphrey RodriguezResearch Manager+44 20 7566 5451daniel.r@peimedia.com
Senior Editor, Private Equity
Toby MitchenallTel: +44 20 7566 5447toby.m@peimedia.com
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Alistair RobinsonTel: +44 20 7566 5454alistair.r@peimedia.com
Head of Production
Tian Mullarkey+44 207 566 5436tian.m@peimedia.com
Subscriptions and Reprints
Andre Anderson+1 646 545 6296 andre.a@peimedia.com
Jack Griffiths+44 20 7566 5468jack.g@peimedia.com
Sigi Fung+852 2153 3140 sigi.f@peimedia.com
Group Managing EditorAmanda Janis, amanda.j@peimedia.com
Editorial DirectorPhilip Borel, philip.b@peimedia.com
Publishing DirectorPaul McLean, paul.m@peimedia.com
Chief ExecutiveTim McLoughlin, tim.m@peimedia.com
Managing Director — AmericasColm Gilmore, colm.g@peimedia.com
Managing Director — AsiaChris Petersen, chris.p@peimedia.com
ContributorsRaymond Lau Chun FaatCynthia Yip
EDITOR'S LETTER
2 private equity international 2016 apac fund manager's guide
APAC FUND MANAGER GUIDE 2016 2016 APAC FUND MANAGER’S GUIDE
What is PEI APAC fund manager’s guide?The Guide is a directory and a ranking of the top private equity fund managers by their fundraising for Asia-Pacific region. It shares the sim-ilar methodology with PEI300, our annual ranking of the top private equity fund managers globally.
The Guide measures capital raised, or formed, within a five-year window by Asia-Pacific-focused direct-investment private equity programmes. It includes private equity firms that invest in Asia-Pa-cific region with varying structures and strategies. Please note that only a defined type of private equity capital, described below, is counted in determining the Guide’s rankings.
HOW WE DETERMINE THE GUIDE’S RANKING
The Guide’s rankings are based on the amount of private equity direct-in-vestment capital raised by Asia-Pacific-focused private equity programmes over a roughly five-year period leading up to press time. This year, the five-year window spans from 1 January 2011 until 31 March 2016.
Where two firms have raised the same amount of capital over this time period, the higher rank goes to the firm with the largest active pool of capital raised since 2011 (i.e., the biggest single fund). If there is still a ‘tie’ after taking into account the size of a single fund, we give greater weight to the firm that has raised the most capital within the past one or two years.
ACCURACY AND CONFIDENTIALITY
We give highest priority to information that we receive from or confirm with the private equity firms themselves. When private equity firms confirm details, we seek to ‘trust but verify’. Some details simply cannot be verified by us, and in these cases we defer to the honour system. Lacking confirmation of details from the firms themselves, we seek to corroborate information using firms’ websites, press releases, limited partner disclosures, etc.
DEFINITIONS
To answer this question – How much Asia-Pacific-focused private equity capital has your firm raised since 1 January 2011? – Some definitions are required.• Private equity: For purposes of the Guide, the definition of pri-
vate equity is capital raised for a dedicated programme of investing directly into businesses. This includes equity capital for diversified private equity, buyouts, growth equity, venture capital, and turnaround or control-oriented distressed investment capital. Further rules on this are below.
• Asia-Pacific: We only count the pools of capital that invests solely in the Asia-Pacific region. Vehicles with global or multi-regional invest-ment mandates will NOT be counted.
• Capital raised: This means capital definitively committed to a pri-vate equity direct investment programme. In the case of a fundraising, it means the fund has had a final or official interim close after 1 January 2011. You may count the full amount of a fund if it has a close after this date. And you may count the full amount of an interim close (a real one, not a ‘soft-circle’) that has occurred recently, even if no official announcement has been made. We also count capital raised through other means, such as co-investment vehicles, deal-by-deal co-investment capital, publicly traded vehicles, recycled capital, and earmarked annual contributions from a sponsoring entity. Further rules on this are below.
WHAT COUNTS AS PRIVATE EQUITY?
• Diversified private equity: So long as the fund in question pri-marily is targeted at acquiring private stakes in operating businesses, this is a ‘private equity’ fund for the purposes of the Guide.
• Buyouts
• Growth equity
• Venture capital
• Turnaround or control-oriented distressed investment capital: We only count distressed funds if they primarily pursue a control strategy. Where a fund adopts a hybrid strategy with a mix of distressed equity and credit investments, we reserve the right to make the final judgement based on applicability according to our definition.
WHAT DOES NOT COUNT AS PRIVATE EQUITY?
• Funds of funds: In the case of a fund that is primarily a fund of funds programme, we would only count direct investment capital raised, if any.
• Secondaries: We do not count capital raised for funds primarily focused on secondaries strategies. A fund that has a few secondaries investments may be counted.
• Real estate: We do not count capital raised for funds primarily focused on real estate strategies. A fund that has a few real estate investments may be counted.
• Infrastructure: We do not count capital raised for funds primarily focused on infrastructure investment strategies. A fund that has a few infrastructure investments may be counted.
• Hedge funds: We do not count hedge funds, meaning funds that primarily target liquid securities or trading strategies. Some hedge funds have target allocations to private equity deals – we do not
METHODOLOGY
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APAC FUND MANAGER GUIDE 20162016 APAC FUND MANAGER’S GUIDE
count these. We do count private equity capital formed in strictly segregated fashion in a hedge fund if these pools of capital are brought to our attention.
• Opportunistic investors: As with many hedge funds, some large enti-ties have the ability to do private equity deals on an opportunistic basis. We do not count these groups because there is no hard capital allo-cation to their direct-investment programmes.
• Debt, including mezzanine debt funds: We only count equity investment funds for the Guide. All debt funds, including mezzanine debt funds, will not be counted towards the Guide.
• PIPE investments: The Guide counts capital raised for investment in private companies. Therefore, we do not count capital raised primarily for PIPE deals. A fund that has a few PIPE deals may be counted.
WHAT COUNTS AS CAPITAL RAISED?
• Limited partnerships: In most cases, private equity firms raise money through commitments to limited partnerships. In some cases, investment capital is raised in other ways, for example through con-tributions from an affiliated entity or through public offerings. In all these cases we seek to accurately determine how much investment capital has been created for the financial sponsor in question over the specified five-year period.
• Co-investment capital: Where possible and appropriate, we count co-investment vehicles as well as opportunistic co-investment capital raised by private equity sponsors. In deals where multiple sponsors have raised co-investment capital, you should count only your firm’s pro-rata share of the co-investment capital raised. (In other words, if your firm and three other firms raise $1 billion in LP co-investment capital for a deal, you cannot count the whole $1 billion as yours.) You do not need to name the individual deals for which co-investment capital was raised, although we would appreciate this information.
• Separate accounts: We include capital raised for separate accounts, as long as the fund manager has full discretion over all investments.
• Public entities: We count the capital raised by private equity firms that happen to be publicly traded. We also count capital raised in the format of public vehicles controlled by private equity firms so long as those public entities commit capital primarily to direct pri-vate equity programmes. This should automatically take into account recycled capital.
• Seed capital or GP commitment: You may count as capital raised any seed capital committed to any fund raised by your firm.
• Recycled capital: We seek to include the value of recycled capital within the five-year period if the recycled capital was earmarked for direct private equity investment.
• Affiliated programmes: You may count private equity capital raised by affiliated entities so long as your firm has control over those entities, or the vehicles raised bear the clear branding of your firm.
• Contributions from sponsoring entities: Where a larger entity has earmarked capital to your firm for a dedicated, direct private equity programme, you should count the amount of capital your firm has drawn down from that entity for direct private equity deals over the defined five-year period.
WHAT DOES NOT COUNT AS CAPITAL RAISED?
• Expected capital commitments: No matter how confident you are about your eventual fundraising goals, we do not count ‘soft-‘ or ‘hard-circled’ commitments – only official final and interim closes.
• Opportunistic capital: An entity that has the ability to opportun-istically do large private equity deals, but does not have a dedicated programme or team for doing so, will not be counted. In other words, a large group that has the ability to tap $40 billion in equity won’t be counted unless that equity has been segregated into a specific vehicle or programme and assigned a dedicated private equity direct-investment team which is actively scouting for deals.
FINDINGS
One hundred private equity fund managers from 11 countries comprise this year’s PEI APAC Fund Manager’s Guide. China, Hong Kong and the United States are home to most of these firms and occupy all of the first 10 spots in the ranking. Forty fund managers on the ranking are China-headquartered, leading by Hony Capital. Sixteen firms are based in Hong Kong, including three of the top four firms on our list – RRJ Capital, Baring Private Equity Asia and PAG. Thirteen firms are from the U.S., most of which are well known global investors such as Kohlberg Kravis Roberts (KKR), Bain Capital, The Carlyle Group and TPG.
From January 2011 to March 2016, the top 100 fund managers together corralled a total of $181 billion for their qualified investment vehicles dedicating to investments in Asia-Pacific region. China alone attracted $76 billion country-focused capital. It is followed by South Korea and India which have attracted approximately $11 billion for each. The largest fundraising in this period was the $6 billion KKR Asian Fund II which was closed in June 2013 as the largest-ever pan-Asian private equity fund. It is followed by RRJ Capital III which was closed in September 2015 at $4.5 billion, Baring Asia Private Equity Fund VI which reached nearly $4 billion final close in February 2015, and Carlyle Asia Partners IV which was closed in September 2014 with a size of $3.9 billion.
In the first quarter of 2016, the largest final close comes from the $920 million Sequoia Capital India V. The largest interim close is by Hony Capital which has raised $1.5 billion for its Fund VIII as of the Guide’s cut-off date. By the end of April, Hony has raised $2.2 billion for the fund as well as a $500 million parallel separate account. n
More questions? Contact Shawn Wang at shawn.w@peimedia.com or +852 2153 3247
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APAC FUND MANAGER GUIDE 2016 2016 APAC FUND MANAGER’S GUIDE
NO. OF MANAGERS BY HEADQUARTERS
CAPITAL RAISED BY YEAR ($BN) CAPITAL RAISED BY STRATEGY
40
35
30
25
20
15
10
5
0
$50
$45
$40
$35
$30
$25
$20
$15
$10
$5
$0
China
2011 2012 2013 2014 2015 2016 (as of
31 March)
IndiaUnited States
Singapore FranceHong Kong
Australia MalaysiaSouth Korea
Japan UK
No
. of m
anag
ers
$bn
$bn
Source: PEI Research and Analytics
Source: PEI Research and Analytics Source: PEI Research and Analytics
40
16
$46.6
$28.7$26.7
$32.7
$39.6
$3.5
13
9
65
43 2
1 1
COUNTRY-FOCUSED FUNDRAISING ($BN)
$80
$70
$60
$50
$40
$30
$20
$10
%0China South
KoreaIndia Aus/
NZJapan
Source: PEI Research and Analytics
$75.9
$11.0 $10.5
$5.0 $4.3
Buyout $87.4bnGrowth/VC $86.0bn
Distressed $3.2bn Others $0.9bn
Top 100
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APAC FUND MANAGER GUIDE 20162016 APAC FUND MANAGER’S GUIDE
2016 Rank Fund Manager PEI APAC Fund Manager’s Guide Fundraising ($mn) Headquarters
1 RRJ Capital $10,400 Hong Kong
2 Baring Private Equity Asia $6,440 Hong Kong
3 Hony Capital $6,232 China
4 PAG $6,160 Hong Kong
5 Kohlberg Kravis Roberts (KKR) $6,000 United States
6 The Carlyle Group $5,167 United States
7 Bain Capital $5,000 United States
8 Affinity Equity Partners $4,180 Hong Kong
9 CITIC Private Equity Funds Management $4,168 China
10 CDH Investments $3,973 Hong Kong
11 TPG $3,592 United States
12 CVC Capital Partners $3,495 United Kingdom
13 Taoshi Equity Investment Management $3,100 China
14 Primavera Capital Group $2,893 China
15 China Development Bank (CDB) $2,856 China
16 YunFeng Capital $2,805 China
17 IDG Ventures $2,682 United States
18 Hahn & Co. $2,681 South Korea
19 MBK Partners $2,680 South Korea
20 Sequoia Capital $2,676 United States
21 Boyu Capital $2,500 Hong Kong
22 Northstar Group $2,062 Singapore
23 Shanghai International Group (SIG, Sailing Capital) $2,008 China
24 Hillhouse Capital Management $2,000 China
25 Morgan Stanley Investment Management $1,979 United States
26 Equis $1,956 Singapore
27 Shunwei Capital Partners $1,909 China
28 Macquarie Group $1,900 Australia
29 Qiming Venture Partners $1,848 China
30 GGV Capital $1,832 United States
31 Multi Asset Global Investment (formerly KDB Asset Management) $1,825 South Korea
32 Legend Capital $1,785 China
33 Pacific Equity Partners $1,720 Australia
34 New Horizon Capital $1,594 Hong Kong
35 Archer Capital $1,588 Australia
36 Navis Capital Partners $1,575 Malaysia
37 Orchid Asia $1,570 Hong Kong
38 Yanchang Petroleum Group $1,566 China
39 Trustbridge Partners $1,564 China
40 Matrix Partners $1,500 United States
41 SAIF Partners $1,475 Hong Kong
42 Morningside Ventures $1,463 China
43 GP Capital $1,428 China
44 Farallon Capital Management $1,425 United States
45 Development Bank of Japan (DBJ) $1,401 Japan
46 Fosun Capital Group $1,386 China
47 Anchor Equity Partners $1,350 Hong Kong
48 FountainVest Partners $1,350 Hong Kong
49 SSG Capital Management $1,315 China
50 Everstone Capital $1,310 Singapore
Top 100
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APAC FUND MANAGER GUIDE 2016 2016 APAC FUND MANAGER’S GUIDE
2016 Rank Fund Manager PEI APAC Fund Manager’s Guide Fundraising ($mn) Headquarters
51 Bright Stone (Beijing) Investment Management $1,291 China
52 Goldstone Investment $1,271 China
53 JP Morgan Asset Management $1,208 United States
54 China Merchants Capital $1,183 China
55 Q Capital Partners $1,152 South Korea
56 Crescent Capital Partners $1,119 Australia
57 Hopu Investment Management $1,100 China
58 Multiples Alternate Asset Management (Multiples Private Equity) $1,095 India
59 CITIC Capital $1,030 Hong Kong
60 Japan Industrial Solutions $1,020 Japan
61 Tata Capital $1,020 India
62 China Everbright Investment Management $1,013 Hong Kong
63 China-ASEAN Capital Advisory Company $1,000 Hong Kong
64 Inventis Investment Holdings (China) $1,000 China
65 L Capital Management $980 France
66 Ascendent Capital Partners (Asia) Limited $965 Hong Kong
67 Unison Capital $890 Japan
68 Blue Economy Zone Industrial Fund Management $866 China
69 ChrysCapital $860 India
70 China International Capital Corporation $855 China
71 STIC Investments $855 South Korea
72 Nexus Venture Partners $850 India
73 Softbank China Venture Capital $845 China
74 ICICI Venture $825 India
75 Haitong Securities $818 China
76 Banyan Capital $809 China
77 Harvest Fund Management $800 China
78 Vision Knight Capital $800 China
79 Agricultural Bank of China $796 China
80 TaiKang Asset Management $794 China
81 The Blackstone Group $793 United States
82 Aerospace Industry Investment Fund Management $780 China
83 Guangdong Zhongguang Investment Management $775 China
84 BOC Yuecai Private Equity $775 China
85 Yellow River Delta Industry Fund Management $775 China
86 KB Investment $773 South Korea
87 Goldman Sachs Merchant Banking Division $771 United States
88 Quadrant Private Equity $764 Australia
89 Woori Asset Management $750 South Korea
90 China Science & Merchants Investment (Fund) Management (CSMI) $742 China
91 Shinhan Private Equity $730 South Korea
92 Creador $712 Malaysia
93 India Value Fund Advisors $700 India
94 Summitview Capital $663 China
95 IMM Private Equity $642 South Korea
96 China Culture Industrial Investment Fund Management $636 China
97 Cinda Capital $635 China
98 Shenyang Darui Investment Management Company $620 China
99 Olympus Capital Holdings Asia $607 Hong Kong
100 Saratoga Capital Group $600 Singapore
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RRJ CAPITAL
HONY CAPITAL
BARING PRIVATE EQUITY ASIA
PAG
1
3
2
4
Latest final / interim closes
Latest final / interim closes
Latest final / interim closes
Latest final / interim closes
Total AUM: USD11 billion (as of Dec 2015)Global HQ: 802-804, Man Yee Building, 68 Des Voeux Road, Central, Hong KongTel: +852 3915 6222Web: www.rrjcap.com
Year Founded: 2011Fund Strategy: BuyoutSector Focus: Financial Services, Consumer Goods, Agriculture, Natural Resources
Total AUM: CNY65 billion (as of May 2016)Global HQ: 6th floor, South Tower C, Raycom InfoTech Park, No. 2, Ke Xue Yuan Nan Lu, Haidian District, Beijing, ChinaTel: +86 10 8265 5888Web: www.honycapital.com
Year Founded: 2003Fund Strategy: BuyoutSector Focus: Consumer, Healthcare, Service, Industrials
Total AUM: USD10 billion (as of Mar 2016)Global HQ: Suite 3801, Two International Finance Centre, 8 Finance Street, Hong KongTel: +852 2843 9300Web: www.bpeasia.com
Year Founded: 1997Fund Strategy: GrowthSector Focus: Diversified
Total AUM: USD14.5 billion (as of Feb 2016)Global HQ: 15/F, AIA Central, 1 Connaught Road Central, Hong KongTel: +852 2918 0088Web: www.pagasia.com
Year Founded: 2002Fund Strategy: BuyoutsSector Focus: Diversified
Fund Name Fund Amount (mn) Primary Strategy
RRJ Capital III USD4,500 Buyout
RRJ Capital II USD3,600 Buyout
RRJ Capital USD2,300 Buyout
Fund Name Fund Amount (mn) Primary Strategy
Hony PE RMB Fund II CNY10,000 Buyout
Hony Fund V USD2,368 Buyout
Hony Capital Fund VIII (a separate account included) USD2,700 (as of Apr 2016) Buyout
Fund Name Fund Amount (mn) Primary Strategy
Baring Asia Private Equity Fund VI USD3,980 Growth
Baring Asia Private Equity Fund V USD2,460 Growth
Fund Name Fund Amount (mn) Primary Strategy
PAG Asia Capital II USD3,660 Buyout
PAG Asia Capital I USD2,500 Buyout
For an extended profile, see page 9
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KOHLBERG KRAVIS ROBERTS (KKR)
THE CARLYLE GROUP
AFFINITY EQUITY PARTNERS
5
6
8
Latest final / interim closes
Latest final / interim closes
Latest final / interim closes
Total AUM: USD126 billion (as of Mar 2016)Global HQ: 9 West 57th Street, Suite 4200, New York, United StatesTel: +1 212 750 8300Web: www.kkr.com
Year Founded: 1976Fund Strategy: Growth, BuyoutSector Focus: Diversified
Total AUM: USD183 billion (as of Mar 2016)Global HQ: 1001 Pennsylvania Avenue, NW, Washington DC, United StatesTel: +1 202 729 5626Web: www.carlyle.com
Year Founded: 1987Fund Strategy: Growth, Buyout, Distressed / TurnaroundSector Focus: Diversified
Total AUM: USD8 billionGlobal HQ: Suite 4002, 40th Floor One Exchange Square, 8 Connaught Place Central, Hong Kong Tel: +852 3102 8329Web: www.affinityequity.com
Year Founded: 2004Fund Strategy: Buyout, GrowthSector Focus: Financial Services, Consumer Goods, Healthcare, TMT, Business Services
Fund Name Fund Amount (mn) Primary Strategy
KKR Asian Fund II USD6,000 Buyout
Fund Name Fund Amount (mn) Primary Strategy
Carlyle Asia Partners IV USD3,880 Buyout
Carlyle Japan Partners III JPY119,500 Buyout
Fund Name Fund Amount (mn) Primary Strategy
Affinity Asia Pacific Fund IV USD3,800 Buyout
BAIN CAPITAL7
Latest final / interim closes
Total AUM: More than USD75 billionGlobal HQ: 200 Clarendon Street, Boston, United StatesTel: +1 617 516 2000Web: www.baincapital.com
Year Founded: 1984Fund Strategy: Growth, BuyoutSector Focus: Diversified (Bain Capital Private Equity, Bain Capital Credit, Bain Capital Ventures, Bain Capital Public Equity)
Fund Name Fund Amount (mn) Primary Strategy
Bain Capital Asia Fund III USD3,000 Buyout
Bain Capital Asia Fund II USD2,000 Buyout
For an extended profile, see page 11
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HO
NY
CA
PIT
AL
FUNDS IN MARKET
FIRM BACKGROUNDHony Capital is a leading China-focused buyout private equity firm with investment history dated from 2003. As of now, we manage eight Private Equity funds and two Mezzanine funds totalling around CNY65 billion. We have made more than 90 investments from our private equity funds to date, across sectors of consumer, healthcare, services and industrials.
Hony strategically targets opportunities in Chinese State-Owned Enterprise (“SOE”) Marketization and has long been the undisputed leader in this area in China, having invested more than US$2.5 billion in 25 SOEs with more than 4.0x Multiple of Capital achieved from realized investments in SOE. We have developed and built sector management platforms for buyout investment in restaurant and hospital respectively. We also recognize and capture systemic opportunity featured by the shift from gathering global capital and investing in Chinese enterprises to bilateral cross-border M&As and serving the Chinese market.
Value creation is the core philosophy behind Hony’s investment strategy. Our strong in-house capabilities experienced in the China market from our consulting teams, portfolio management specialists, interim CXOs and operating partners have created and will be creating unique value for our portfolio companies in operation, management, strategy and development.
As a country manager in China, we have established our brand as a reputable, resourceful and reliable partner. The connections and resources of our Hony franchise and access to the broader network of our sponsor, Legend Holdings, have contributed to our strong sourcing and value creation capabilities.
Through more than 13 years of investment practice across all economic cycles, we have built-up our China Expertise. Since our establishment, we have been sourcing proprietary opportunities, partnering with visionary management teams, innovating compelling transaction models, building industry leaders, and creating value across a selected range of industries and geographic regions.
We have a team of 180 professionals located in our Beijing, Shanghai and Hong Kong offices. Our investment team has in-depth industry knowledge and are supported by our highly institutionalized platform, our consulting professionals and sector operating specialists.
CONTACTSContact Office Title Email
Xihong DENG Beijing Managing Director, Investor Management Department dengxha@honycapital.com
Jiong GU Beijing Director, Investor Management Department gujiong@honycapital.com
YEAR FOUNDED
INVESTMENT STRATEGY
SECTOR FOCUS
2003
Buyout
Consumer, Healthcare, Service, Industrials
AUM: CNY65 billion (as of May 2016)Global HQ 6th floor, South Tower C, Raycom InfoTech Park, No. 2, Ke Xue Yuan Nan Lu, Haidian District, Beijing, ChinaTel: +86 10 8265 5888 Web: www.honycapital.com
Fund Name Fund Amount (mn) Fund Strategy
Hony Capital Fund I USD38 Buyout
Hony Capital Fund II USD88 Buyout
Hony Capital Fund III USD580 Buyout
Hony Capital Fund 2008 USD1,398 Buyout
Hony Capital RMB Fund I CNY5,000 Buyout
Hony Capital RMB Fund II CNY10,000 Buyout
Hony Capital Fund V USD2,368 Buyout
Hony Capital Fund VIII (a separate account included) USD2,700 (as of Apr 2016) Buyout
Hony Capital Mezzanine Fund I CNY1,040 Mezzanine
Hony Capital Mezzanine Fund II CNY2,050 Mezzanine
3
10 private equity international 2016 apac fund manager's guide
CITIC PRIVATE EQUITY FUNDS MANAGEMENT
TPG
CDH INVESTMENTS
CVC CAPITAL PARTNERS
9
11
10
12
Latest final / interim closes
Latest final / interim closes
Latest final / interim closes
Latest final / interim closes
Total AUM: CNY45 billion Global HQ: 10/F Jinbao Tower No. 89, Jinbao Street, Dongcheng District, Beijing, ChinaTel: +86 10 8507 9001Web: www.citicpe.com
Year Founded: 2008Fund Strategy: Growth, Buyout, Mezzanine / DebtSector Focus: Diversified
Total AUM: USD74.3billion (as of Jun 2015)Global HQ: 301 Commerce Street, Suite 3300, Fort Worth, United StatesTel: +1 817 871 4000Web: www.tpg.com
Year Founded: 1992Fund Strategy: Growth, Buyout, Distressed / TurnaroundSector Focus: Diversified
Total AUM: USD19.6 billion (as of Jun 2015)Global HQ: 1503 International Commerce Center, 1 Austin Road West, Kowloon, Hong KongTel: +852 3518 8000Web: www.cdhfund.com
Year Founded: 2002Fund Strategy: Growth, Buyout, Venture Capital, Mezzanine / DebtSector Focus: Consumer Goods, Clean Tech / Renewable, Healthcare, Retail, TMT
Total AUM: USD71 billionGlobal HQ: 111 Strand, London, United KingdomTel: +44 20 7420 4200Web: www.cvc.com
Year Founded: 1981Fund Strategy: Growth, Buyout, Mezzanine / DebtSector Focus: Diversified
Fund Name Fund Amount (mn) Primary Strategy
CPE China Fund II USD1,290 Growth
CITIC Private Equity Fund III CNY11,900 Growth
CPE China Fund USD990 Growth
Fund Name Fund Amount (mn) Primary Strategy
TPG Asia VI USD3,270 Distressed / Turnaround
Fund Name Fund Amount (mn) Primary Strategy
CDH RMB VC II CNY457 Growth
CDH Fund V USD2,550 Buyout
CDH Venture Partners III USD106 Venture Capital
Fund Name Fund Amount (mn) Primary Strategy
CVC Asia Pacific Fund IV USD3,495 Growth
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BA
IN C
AP
ITA
L
FIRM BACKGROUNDBain Capital, LP is one of the world’s leading private multi-asset alternative investment firms with more than $75 billion of assets under management that creates lasting impact for our investors, teams, businesses, and the communities in which we live. Since our founding in 1984, we’ve applied our insight and experience to organically expand into several asset classes including private equity, credit, public equity and venture capital. We leverage our shared platform to capture cross-asset class opportunities in strategic areas of focus. With offices on four continents, our global team aligns our interests with those of our investors for lasting impact.
Jonathan Zhu, Managing Director, Private EquityDavid Gross-Loh, Managing Director, Private Equity Jim Hildebrandt, Managing Director (Investor Relations), Private Equity
KEY PERSONNEL
YEAR FOUNDED
INVESTMENT STRATEGY
SECTOR FOCUS
1984
Growth, Buyout (Private Equity)
Diversified (Bain Capital Private Equity, Bain Capital Credit, Bain Capital Ventures, Bain Capital Public Equity)
Fund Name Fund Amount (mn) Fund Strategy
Bain Capital Asia Fund III USD3,000 Buyout
Bain Capital Asia Fund II USD2,000 Buyout
Bain Capital Asia Fund I USD1,000 Buyout
AUM: More than USD75bn (across asset classes)Global HQ: 200 Clarendon Street, Boston, United StatesTel: +1 617 516 2000 Asia HQ: Unit 5101, 51/F, Cheung Kong Center, 2 Queen’s Road Central, Hong Kong Tel: +852 3656 6800Web: www.baincapital.com
7
TAOSHI EQUITY INVESTMENT MANAGEMENT
PRIMAVERA CAPITAL GROUP
13
14
Latest final / interim closes
Latest final / interim closes
Total AUM: CNY20 billionGlobal HQ: Room 205, Block 16, 600 Minsheng Road, Pudong, Shanghai, ChinaTel: - Web: -
Year Founded: 2010Fund Strategy: GrowthSector Focus: Energy / Oil & Gas, Natural Resources
Total AUM: USD2.9 billionGlobal HQ: 48/F, China World Tower 3, 1 Jian Guo Men Wai Avenue, Beijing, ChinaTel: +86 10 8559 8988Web: www.primavera-capital.com
Year Founded: 2010Fund Strategy: Growth, BuyoutSector Focus: Diversified
Fund Name Fund Amount (mn) Primary Strategy
Taoshi Energy Equity Investment Fund I CNY20,000 Growth
Fund Name Fund Amount (mn) Primary Strategy
Primavera Capital RMB Fund I (Chunhua RMB Fund I) CNY3,030 Growth
Primavera Capital Fund II USD400 Growth
12 private equity international 2016 apac fund manager's guide
NA
VIS
CA
PIT
AL
PAR
TNE
RS
FUNDS IN MARKET
FIRM BACKGROUNDNavis Capital Partners (“Navis”) has a well-established track record of making controlling investments in Asia, particularly in private enterprises with a strong or developing presence in Southeast Asia, Australia and China/Hong Kong.
The firm manages several private and public equity funds totalling US$ 5 billion. Our investors are national, state and corporate pension funds, insurance companies, corporations and foundations, as well as high net worth individuals and family offices. The investor base is distributed evenly between North America, Europe and Asia/MENA.
Navis acquires control of its portfolio companies and has made over seventy controlling investments since inception in 1998. All Navis’ portfolio companies are intended to be leaders or near leaders in their respective industries and segments with a clear competitive advantage that makes them attractive to trade buyers. Navis has completed over 40 exits, almost all have been to trade buyers and none have been via the more unpredictable IPO route.
Navis works in a close partnership with the founders and management teams of the portfolio companies, contributing both capital and management expertise with the objective of directing strategic, operational and financial improvements, typically through initiatives that drive growth, margin improvement and asset efficiency. Navis is committed to improving the ‘Environmental, Social and Governance’ (“ESG”) practices of its portfolio companies, and has proven beyond internal doubt that ESG can be an important lever for value creation. Navis’ investment model places a low reliance on leverage to drive its equity returns.
Navis is one of the largest and most experienced private equity teams in Asia with over 60 professionals that are supported by over 30 administrative staff. Navis’ team of private equity professionals collectively constitute a strong combination of strategic, operational and financial experience from positions in management consultancy, private equity, investment banking, securities analysis, leveraged finance, legal and industry. Navis’ teams are regionally distributed and work across eight offices throughout the Asia Pacific region – in Bangkok, Ho Chi Minh, Hong Kong, Kuala Lumpur, Mumbai, Singapore, Shanghai and Sydney. Our deep local presence across Asia Pacific affords the firm unmatched insight into investment opportunities across the region and ensures that Navis has the capability to actively drive the growth of our portfolio companies both domestically and across (and where appropriate, outside of) the region.
KEY PERSONNEL Contact Office Title Email
Nicholas Bloy Kuala Lumpur Managing Partner nbloy@naviscapital.com
Rodney Muse Kuala Lumpur Managing Partner rmuse@naviscapital.com
YEAR FOUNDED
INVESTMENT STRATEGY
SECTOR FOCUS
1998
Control in Growth and/or Buyout Opportunities
Consumer GoodsEducationHealthcare
ManufacturingRetail
AUM: US$ 5 billion (inc public equities funds)Global HQ Level 17, Axiata Tower9 Jalan Stesen Sentral V50450 Kuala Lumpur, MALAYSIATel: +603 2302 3888 Web: www.naviscapital.com
Private Fund Platform (US$m)
Fund(s) Vintage Equity Raised (US$m) Locations targeted Status
Fund I/II 1999 $68 ASEAN Exited
Fund III 2001 $86 ASEAN/Australia/India Exited
Fund IV 2004 $315 ASEAN/Australia/India/China Fully Invested
NAF V 2007 $1000 ASEAN/Australia/India/China Fully invested
NAF VI 2009 $1200 ASEAN/Australia/India/China Fully invested
NAF VII 2013 $1500 ASEAN/Australia/China Investing
36
132016 apac fund manager's guide private equity international
Navis has completed over seventy control investments. We know that a control position provides Navis the platform to create and drive the strategic agenda with management, support key initiatives, intervene decisively if performance is off-track, and to drive the exit process. This strategy has delivered good liquidity and returns for our investors and Navis.
Navis’ approach to investing will remain largely unchanged, albeit benefiting from both positive and negative lessons learned over the last 18 years. An emerging investment theme is to selectively back Asian companies to take advantage of opportunities outside of Asia, as well as to help non-Asian companies with an Asian beachhead or opportunity. Whether an opportunity is outbound from, or inbound to Asia, Navis’ multinational, multicultural and multilingual
capability can assist management teams to navigate the complexities of growing and succeeding in international markets.
Navis will continue to improve the focus and rigour applied to ESG issues to ensure practices are world class, a proven driver of shareholder value.
Navis’ geographic footprint is focused on the countries of Southeast Asia, Australia and China. An office will open in Indonesia within the next 24 months, and we are considering the merits of establishing a European and/or US capability for investment sourcing and portfolio company support.
Navis is 100% owned by its working partners, and every professional and support staff member of the firm enjoys an entitlement to carried interest.
STRATEGIC CORPORATE DEVELOPMENT
INVESTMENT PRINCIPLES & STRATEGYNavis is a controlling investor in order to be i) in a position to drive an ambitious value-creation agenda; and ii) able to exit to trade buyers (who typically want to buy 100% of any company they acquire), and thereby eliminate the typical private equity reliance on unpredictable and often illiquid public markets.
In the case of Navis’ earlier funds, where our impact has been felt the longest, approximately three-quarters of the value that Navis created is derived through increasing the profits of our portfolio companies, rather than through financial leverage. Navis’ portfolio companies generally enjoy multiple expansion between entry and exit, which we attribute not to serendipitous timing, but to an improved competitive position and the development of high standards of ESG practice, both
of which command a premium from demanding MNC buyers. Navis targets established mid-market companies with leadership
or near-leadership positions in their respective industry segments. These companies generally have strong, profitable foundations, but typically lack certain key attributes required to transition to a higher level of size, sophistication and geographic scope. Navis provides financial and intellectual capital towards initiatives that target growth, asset efficiency, margin improvement and enhanced cash generation. Navis professionalizes these companies by strengthening management teams and committing them to ESG practices which are increasingly important for companies to be able to participate in a global environment.
SECTOR FORECAST
Navis believes that Southeast Asia provides attractive opportunities for private equity investing. The economies of the region have outperformed the US and Europe almost continuously for thirty years in terms of GDP growth, emerging as one of the world’s fastest growing regions. Navis believes that the long term growth profile of Southeast Asia continues to be attractive as trade linkages within and across the region continue to strengthen.
The region’s continued industrialisation and urbanization is estimated to see a further 100 million people move into urban areas within the next decade. This shift will sustain sizable investment into infrastructure, housing and commercial space. Development of this scale will continue to move the region’s labour force away from agriculture and into the higher value adding and more productive manufacturing and services sectors. Growth will come not only from industries that service infrastructure development, such as industrial products and equipment, but also from industries such as FMCG, retail, healthcare and education that cater to an enlarging consumer class with increasing affluence.
With this, we expect that Southeast Asia will become increasingly interconnected with the global economy and should see greater share of global trade flows. The ‘ASEAN Economic Community’ integration plan is increasing regional trade flows and enabling cross-border growth catalysed by the creation of a single market
with a fast-growing population of ~ 650 million relatively young, literate and increasingly affluent people. With various bi-lateral and multi-lateral trade agreements already underway (including ‘ASEAN + 3’ and the ‘Trans-Pacific Partnership Agreement’, selected economies in the region are well-placed to increase their share of export markets, particularly to the United States and Japan. We expect that economies within the region will continue to increase the coverage of their free trade agreements, especially with the European Union and economies in the MENA region. Geographically, Southeast Asia is also ideally located to be buoyed by the growth of its neighbours India and China.
The positive macro environment within Southeast Asia creates sizable opportunities for enterprise as well as intensifies the level of competition throughout the region. Local market leaders have the opportunity to go regional and use the newfound scale of an interconnected ASEAN to challenge globally but will need to contend with increased competition from other regional operators and foreign multi-nationals.
The need for private equity in the region has never been greater. Many enterprises are at a stage of generational change, as first generation entrepreneurs enter retirement, and many others require significant capital to invest to build capacity as well as improve productivity.
14 private equity international 2016 apac fund manager's guide
IDG VENTURES
CHINA DEVELOPMENT BANK (CDB)
HAHN & CO.
YUNFENG CAPITAL
17
15
18
16
Latest final / interim closes
Latest final / interim closes
Latest final / interim closes
Total AUM: USD6.8 billion (as of Mar 2015)Global HQ: One Letterman Drive, Building D, Suite 100, The Presidio of San Francisco, San Francisco, United StatesTel: +1 415 439 4420Web: www.idgventures.com
Year Founded: 1992Fund Strategy: Venture Capital, GrowthSector Focus: Biotech / Life Science, Energy / Oil & Gas, Healthcare, TMT
Total AUM: -Global HQ: No. 18 Fuxingmennei Street, Xicheng District, Beijing, ChinaTel: +86 10 6830 6789Web: www.cdb.com.cn
Year Founded: 1994Fund Strategy: Growth, BuyoutSector Focus: Diversified
Total AUM: USD3 billion (as of Dec 2015)Global HQ: Hahn & Company, 21 F Ferrum Tower, 19, Eulji-ro 5-gil, Jung-gu, Seoul, South KoreaTel: +82 2 6353 7900Web: www.hcompany.com
Year Founded: 2010Fund Strategy: BuyoutSector Focus: Diversified
Total AUM: USD2.8 billion (Est.)Global HQ: Room 3501, 35th floor, K. Wah Centre, No. 1010, Middle Huaihai Rd., Shanghai, ChinaTel: +86 21 3127 0909Web: www.yfc.cn
Year Founded: 2010Fund Strategy: Venture Capital, GrowthSector Focus: Consumer Goods, Clean Tech / Renewable, TMT, Entertainment
Fund Name Fund Amount (mn) Primary Strategy
IDG-SMBA VC Fund KRW100,000 Venture Capital
IDG China Venture Capital Fund IV USD586 Venture Capital
Fund Name Fund Amount (mn) Primary Strategy
Hahn & Co II USD1,230 Buyout
Fund Name Fund Amount (mn) Primary Strategy
CDB Development Fund CNY18,000 Buyout
Fund Name Fund Amount (mn) Primary Strategy
YunFeng Capital Fund II USD1,100 Growth
YunFeng Capital Fund I (USD & RMB Funds) CNY10,000 Growth
Latest final / interim closes
152016 apac fund manager's guide private equity international
Total AUM: USD10.1 billion (as of Apr 2016)Global HQ: 22F, D Tower D1, 17 Jongno 3-gil, Jongno-gu, Seoul, South KoreaTel: +82 2 3706 8600Web: www.mbkpartnerslp.com
Year Founded: 2005Fund Strategy: BuyoutSector Focus: Financial Services, Healthcare, Retail, TMT
MBK PARTNERS
SEQUOIA CAPITAL
19
20
Latest final / interim closes
Total AUM: USD5.4 billion (as of Dec 2015)Global HQ: 2800 Sand Hill Road, Suite 101, Menlo Park, United StatesTel: +1 650 854 3927Web: www.sequoiacap.com
Year Founded: 1972Fund Strategy: Venture Capital, GrowthSector Focus: Financial Services, Energy / Oil & Gas, Healthcare, TMT
Fund Name Fund Amount (mn) Primary Strategy
MBK Partners Fund III USD2,680 Buyout
Fund Name Fund Amount (mn) Primary Strategy
Sequoia Capital India V USD920 Venture Capital
Sequoia Capital China Growth Fund III USD625 Growth
Sequoia Capital India IV USD740 Venture Capital
SSG
CA
PIT
AL
MA
NA
GE
ME
NT
FIRM BACKGROUNDSSG Capital Management is an alternative asset management firm in the Asia Pacific region, with over US $2 billion of assets under management. The firm was founded in 2009 with a fundamental-driven value investing approach by a team of senior professionals with extensive investment experience in Asia. SSG Capital Management Group has offices in Hong Kong, Singapore, Shanghai, Mumbai, Mauritius, Bangkok and Jakarta, with its Hong Kong, Singapore, Mauritius and Thailand entities regulated and licensed by the Hong Kong Securities and Futures Commission, the Monetary Authority of Singapore, the Mauritius Financial Services Commission and the Bank of Thailand respectively.
YEAR FOUNDED
INVESTMENT STRATEGY
SECTOR FOCUS
2009
Special Situations, Distressed and Private Credit
Diversified
Fund Name Fund Amount Final Close Fund Strategy
SSG Capital Partners II, L.P. US $ 400mn 26 Oct 2012 Special Situations/Distressed
SSG Capital Partners III, L.P. US $ 915mn 15 May 2014 Special Situations/ Distressed
SSG Secured Lending Opportunities I, L.P. US $ 325mn 17 Sep 2015 Private Credit
AUM: US$2 billionAsia HQ: Suite 7903, The Center, 99 Queen’s Road Central, Hong Kong, SARTel: +852-3909-8888Website: www.ssgasia.com
49
Latest final / interim closes
16 private equity international 2016 apac fund manager's guide
BOYU CAPITAL
SHANGHAI INTERNATIONAL GROUP (SIG, SAILING CAPITAL)
NORTHSTAR GROUP
HILLHOUSE CAPITAL MANAGEMENT
21
23
22
24
Latest final / interim closes
Latest final / interim closes
Latest final / interim closes
Latest final / interim closes
Total AUM: USD2.5 billionGlobal HQ: Suite 1508, 15F, Hutchison House, 10 Harcourt Road, Central, Hong KongTel: +852 3987 1788Web: www.boyucapital.com
Year Founded: 2010Fund Strategy: GrowthSector Focus: Diversified
Total AUM: CNY1801 billion (as of Dec 2014)Global HQ: No.511 Weihai Road, Shanghai, ChinaTel: +86 21 2219 1111Web: www.sigchina.com
Year Founded: 2000Fund Strategy: Growth, BuyoutSector Focus: Diversified
Total AUM: USD2 billion (as of Apr 2016)Global HQ: Unit #35-05, 6 Battery Road, SingaporeTel: +65 6533 3210Web: www.nsgroup.com
Year Founded: 2006Fund Strategy: Venture Capital, GrowthSector Focus: Natural Resources, TMT
Total AUM: USD18 billionGlobal HQ: Floor 28, Building B, PingAn International Financial Center, No. 1-3 Xinyuan South Road, Chaoyang District, Beijing, ChinaTel: +86 10 5952 0800Web: www.hillhousecap.com
Year Founded: 2005Fund Strategy: GrowthSector Focus: Consumer Goods, Healthcare, TMT
Fund Name Fund Amount (mn) Primary Strategy
Boyu Capital Fund II USD1,500 Growth
Boyu Capital Fund I USD1,000 Growth
Fund Name Fund Amount (mn) Primary Strategy
Sailing Logistics Funds CNY1,000 Buyout
Sailing New Culture Private Equity Fund I USD109.6 Growth
Fund Name Fund Amount (mn) Primary Strategy
Northstar Equity Partners IV USD810 Growth
Northstar Equity Partners III USD820 Growth
Fund Name Fund Amount (mn) Primary Strategy
Hillhouse Capital Fund I USD2,000 Growth
172016 apac fund manager's guide private equity international
CR
ESC
EN
T C
AP
ITA
L PA
RTN
ER
S
FIRM BACKGROUNDCrescent invests in middle market companies in Australia and New Zealand, typically with enterprise values of AUD$50 million to AUD$300 million. Crescent’s investment focus is on companies with potential for strong earnings growth and industries that are undergoing structural change or that are set for consolidation. The investment team of over twenty professionals has strategy consulting and operating backgrounds, enabling the firm to provide value added support to portfolio companies. Although sector agnostic, Crescent has expertise in financial services, branded and industrial businesses and has been the most active private equity player in healthcare in Australia measured by number of investments made.
YEAR FOUNDED
INVESTMENT STRATEGY
SECTOR FOCUS
KEY CONTACTS
2000
Growth Buyout
Diversified
Contact Office Title email
Michael Alscher Sydney Managing Partner mail@crescentcap.com.au
Neville Buch Sydney Partner mail@crescentcap.com.au
Tim Martin Sydney Partner mail@crescentcap.com.au
Nat Thomson Sydney Partner mail@crescentcap.com.au
AUM: AUD1.6 billion Global HQ: Lvl 29 Governor Phillip Tower, 1 Farrer Place, Sydney, NSW 2000AustraliaTel: +61 2 9220 8100 Website: www.crescentcap.com.au
Fund Name Fund Amount (mn) Fund Strategy
Crescent V (2015) AUD$675m Growth buyout
Crescent IV (2012) AUD$495m Growth buyout
Crescent III AUD$400m Growth buyout
56
MORGAN STANLEY INVESTMENT MANAGEMENT
EQUIS
25
26
Latest final / interim closes
Latest final / interim closes
Total AUM: USD405 billion (as of Mar 2016)Global HQ: 1585 Broadway, New York, United StatesTel: +1 212 761 4000 Web: www.morganstanley.com
Year Founded: 1975Fund Strategy: BuyoutSector Focus: Diversified
Total AUM: USD2.7 billion (as of Feb 2015)Global HQ: 1 George Street #14-04, One George Street, SingaporeTel: +65 6220 0040Web: www.equisfg.com
Year Founded: 2010Fund Strategy: GrowthSector Focus: Clean Tech / Renewable, Energy / Oil & Gas
Fund Name Fund Amount (mn) Primary Strategy
North Haven Private Equity Asia IV USD1,700 Buyout
Fund Name Fund Amount (mn) Primary Strategy
Equis Asia Fund II USD1,010 Growth
Equis Direct Investment Fund USD298.6 Growth
18 private equity international 2016 apac fund manager's guide
Total AUM: USD2.2 billionGlobal HQ: 3000 Sand Hill Road, Building 4, Suite 230, Menlo Park, United StatesTel: +1 650 475 2150Web: www.ggvc.com
Year Founded: 2000Fund Strategy: Venture CapitalSector Focus: TMT
SHUNWEI CAPITAL PARTNERS
MACQUARIE GROUP
27
28
Latest final / interim closes
Latest final / interim closes
Total AUM: USD1.9 billionGlobal HQ: 1401-1402, Block A Stone World Building, No. 50 Wangjing West A, Chaoyang District, Beijing, ChinaTel: +86 10 5985 1516Web: www.shunwei.com
Year Founded: 2011Fund Strategy: Venture Capital, GrowthSector Focus: TMT
Total AUM: AUD487 billion (as of Dec 2015)Global HQ: Level 15, No 1 Martin Place, Sydney, AustraliaTel: +61 2 8232 3333Web: www.macquarie.com.au
Year Founded: 1970Fund Strategy: Growth, BuyoutSector Focus: Diversified
Fund Name Fund Amount (mn) Primary Strategy
Shunwei RMB Fund CNY1,000 Venture Capital
Shunwei China Internet Fund III USD1,000 Venture Capital
Fund Name Fund Amount (mn) Primary Strategy
Macquarie Korea Opportunities Fund II AUD700 Buyout
QIMING VENTURE PARTNERS
GGV CAPITAL
29
30
Latest final / interim closes
Latest final / interim closes
Total AUM: USD2.5 billion (as of Mar 2016)Global HQ: Room 3901 Jinmao Tower, 88 Century Boulevard, Shanghai, ChinaTel: +86 21 6101 6522Web: www.qimingventures.com
Year Founded: 2006Fund Strategy: Venture CapitalSector Focus: Consumer Goods, Clean Tech / Renewable, Healthcare, TMT
Fund Name Fund Amount (mn) Primary Strategy
Qiming Venture Partners V USD648 Venture Capital
Qiming Venture Partners IV USD500 Venture Capital
Qiming RMB Fund III CNY500 Venture Capital
Fund Name Fund Amount (mn) Primary Strategy
GGV Capital Select USD457 Venture Capital
GGV Capital V USD621.9 Venture Capital
192016 apac fund manager's guide private equity international
MULTI ASSET GLOBAL INVESTMENT (FORMERLY KDB ASSET MANAGEMENT)
LEGEND CAPITAL
31
32
Latest final / interim closes
Latest final / interim closes
Total AUM: KRW8900 billion (as of Dec 2015)Global HQ: 16th Floor, 56 Gukegeumyung-ro, yeongdeungpa-gu, Seoul, South KoreaTel: +82 2 3774 8000Web: multiasset.miraeasset.co.kr
Year Founded: 1996Fund Strategy: GrowthSector Focus: Diversified
Total AUM: CNY20 billion (as of Dec 2015)Global HQ: 16F, Tower B, Raycom Infotech Park, No. 2 Kexueyuan South Road, Zhongguancun, Beijing, ChinaTel: +86 10 8913 9000Web: www.legendcapital.com.cn
Year Founded: 2001Fund Strategy: Venture Capital, GrowthSector Focus: Diversified
Fund Name Fund Amount (mn) Primary Strategy
Growth Ladder Fund KRW2,000,000 Growth
Fund Name Fund Amount (mn) Primary Strategy
LC Healthcare Fund I USD250 Growth
LC Fund VI USD500 Growth
TATA
CA
PIT
AL
FIRM BACKGROUNDThe Tata Opportunities Fund (TOF), the Tata group’s flagship private equity fund and the largest fund within Tata Capital Private Equity, is a USD 600 mn private equity fund raised primarily from large, institutional investors from Asia and North America. TOF’s strategy focuses on investing in market leading businesses centered on India through proprietary deals that leverage the Tata brand and ecosystem. The Fund aims on working with the strongest sponsor groups with the highest standards of governance. TOF is sector agnostic and typical invests USD 30 – 100 mn per transaction. The Fund is expected to be fully deployed in 2016 and plans to raise a successor fund with a similar fund size and strategy.
YEAR FOUNDED
INVESTMENT STRATEGY
KEY CONTACTS AT TATA OPPORTUNITIES FUND
2009
Multi-stage
AUM: USD 1 billion Global HQ: 11A Peninsula Business Park, Lower Parel, Mumbai -400013. India.Tel: +91 22 6606 9000Website: http://online.tatacapital.com/Private_Equity/Index.htm
Fund Name Fund Amount (mn)
Fund Strategy
Tata Opportunities Fund USD 600 Growth & Buy-out
Tata Capital Growth Fund USD 240 Growth
Tata Capital Special Situations Fund
USD 50 Distressed
Tata Capital Healthcare Fund USD 80 Early/Growth
Tata Capital Innovations Fund USD 60 Venture
Padmanabhan (Paddy) Sinha – Managing PartnerGautham Radhakrishnan – PartnerBobby Pauly – Partner
61
20 private equity international 2016 apac fund manager's guide
PACIFIC EQUITY PARTNERS
ARCHER CAPITAL
NEW HORIZON CAPITAL
NAVIS CAPITAL PARTNERS
33
35
34
36
Latest final / interim closes
Latest final / interim closes
Latest final / interim closes
Latest final / interim closes
Total AUM: AUD4 billion (as of Sep 2015)Global HQ: 126 Phillip Street Level 31, Sydney, AustraliaTel: +61 2 8238 2600Web: www.pep.com.au
Year Founded: 1998Fund Strategy: Growth, BuyoutSector Focus: Diversified
Total AUM: AUD2 billionGlobal HQ: Suite 7 Pier 2/3, 13 Hickson Road, Dawes Point, AustraliaTel: +61 2 8243 3333Web: www.archercapital.com.au
Year Founded: 1997Fund Strategy: Buyout, GrowthSector Focus: Diversified
Total AUM: USD4.3 billion (as of Apr 2016)Global HQ: Suites 1702-03, One Exchange Square, 8 Connaught Place, Central, Hong KongTel: +852 2801 6988Web: www.nhfund.com
Year Founded: 2005Fund Strategy: Growth, BuyoutSector Focus: Consumer Goods, Clean Tech / Renewable, Healthcare, Industrials
Total AUM: USD5 billion (as of April 2016)Global HQ: Level 17, Axiata Tower, 9, Jalan Stesen Sentral V, Kuala Lumpur Sentral, Kuala Lumpur, MalaysiaTel: +603 2302 3888Web: www.naviscapital.com
Year Founded: 1998Fund Strategy: Control in Growth and/or Buyout OpportunitiesSector Focus: Consumer Goods, Education, Healthcare, Manufacturing, Retail
Fund Name Fund Amount (mn) Primary Strategy
Pacific Equity Partners V AUD2,100 Buyout
Fund Name Fund Amount (mn) Primary Strategy
Archer Capital Fund 5 AUD1,200 Buyout
Archer Capital Growth Fund 2 AUD300 Growth
Fund Name Fund Amount (mn) Primary Strategy
New Horizon RMB Fund II CNY3,430 Buyout
New Horizon Capital IV USD1,050 Buyout
Fund Name Fund Amount (mn) Primary Strategy
Navis Asia Fund VII USD1,500 Buyout
Malaysian Growth Opportunity Fund I MYR230 Buyout
For an extended profile, see page 12
212016 apac fund manager's guide private equity international
ORCHID ASIA
TRUSTBRIDGE PARTNERS
YANCHANG PETROLEUM GROUP
MATRIX PARTNERS
37
39
38
40
Latest final / interim closes
Latest final / interim closes
Latest final / interim closes
Latest final / interim closes
Total AUM: USD3 billion (as of Mar 2015)Global HQ: Suite 6211-12, 62/F, The Center, 99 Queen's Road Central, Hong Kong Tel: +852 2115 8810Web: www.orchidasia.com/en/
Year Founded: 1992Fund Strategy: GrowthSector Focus: Diversified
Total AUM: USD1.7 billionGlobal HQ: One Lujiazui, Suite 1206, 68 Yincheng Middle Road, Shanghai, ChinaTel:Web: www.trustbridgepartners.com
Year Founded: 2006Fund Strategy: GrowthSector Focus: TMT
Total AUM: CNY14.2 billionGlobal HQ: No.75 Keji 2Rd, Xi'an, Shaanxi, ChinaTel: +86 911 2493 001Web: english.sxycpc.com
Year Founded: 1905Fund Strategy: Venture CapitalSector Focus: Energy / Oil & Gas, Manufacturing, Aerospace
Total AUM: USD3 billion Global HQ: 101 Main Street, 17th Floor, Cambridge, United StatesTel: +1 617 494 1223Web: www.matrixpartners.com
Year Founded: 1977Fund Strategy: Venture CapitalSector Focus: Healthcare, TMT
Fund Name Fund Amount (mn) Primary Strategy
Orchid Asia VI USD920 Growth
Orchid Asia V USD650 Growth
Fund Name Fund Amount (mn) Primary Strategy
Trustbridge Partners IV USD700 Growth
Trustbridge Partners V USD864 Growth
Fund Name Fund Amount (mn) Primary Strategy
Guantian Industrial Fund I CNY10,100 Venture Capital
Fund Name Fund Amount (mn) Primary Strategy
Matrix Partners China IV USD500 Venture Capital
Matrix Partners China III USD350 Venture Capital
Matrix Partners China II USD350 Venture Capital
22 private equity international 2016 apac fund manager's guide
SAIF PARTNERS
GP CAPITAL
MORNINGSIDE VENTURES
FARALLON CAPITAL MANAGEMENT
41
43
42
44
Latest final / interim closes
Latest final / interim closes
Latest final / interim closes
Latest final / interim closes
Total AUM: USD4 billion (as of Dec 2015)Global HQ: Suites 2516-2520, Two Pacific Place, 88 Queensway, Hong KongTel: +852 2918 2200Web: www.sbaif.com
Year Founded: 2001Fund Strategy: Venture Capital, GrowthSector Focus: Financial Services, Consumer Goods, Healthcare, TMT
Total AUM: CNY20 billion (as of Mar 2015)Global HQ: Room 4901, 49/F One Lujiazui, No. 68 Yin Cheng (Central) Road, Shanghai, ChinaTel: +86 21 2032 9333Web: www.gpcapital.com.cn
Year Founded: 2009Fund Strategy: BuyoutSector Focus: Financial Services, Consumer Goods, Energy / Oil & Gas, Advanced Manufacturing, Natural Resources, Modern Agriculture
Total AUM: USD1.5 billionGlobal HQ: 320 Wu Yuan Road, Shanghai, ChinaTel: +86 21 6119 7500Web: www.morningside.com
Year Founded: 1986Fund Strategy: Venture CapitalSector Focus: Biotech / Life Science, Clean Tech / Renewable, Healthcare, TMT
Total AUM: USD23.2 billion Global HQ: One Maritime Plaza, Suite 2100, San Francisco, United StatesTel: +1 415 421 2132Web: www.faralloncapital.com
Year Founded: 1986Fund Strategy: BuyoutSector Focus: Diversified
Fund Name Fund Amount (mn) Primary Strategy
SAIF Partners India V USD350 Venture Capital
SAIF China Growth RMB Fund II CNY5,000 Growth
SAIF India I USD350 Venture Capital
Fund Name Fund Amount (mn) Primary Strategy
Shanghai Financial Sector Investment Fund I CNY9,000 Buyout
Fund Name Fund Amount (mn) Primary Strategy
Morningside China TMT Special Opportunity Fund II 176.7 Venture Capital
Morningside China TMT Fund IV 660 Venture Capital
Morningside China TMT Special Opportunity Fund 93 Venture Capital
Fund Name Fund Amount (mn) Primary Strategy
Farallon Asia Special Situations Fund II USD320 Buyout
Farallon Asia Special Situations Master II USD334 Buyout
Farallon Asia Special Situations Fund III USD300 Buyout
232016 apac fund manager's guide private equity international
DEVELOPMENT BANK OF JAPAN (DBJ)
ANCHOR EQUITY PARTNERS
FOSUN CAPITAL GROUP
FOUNTAINVEST PARTNERS
45
47
46
48
Latest final / interim closes
Latest final / interim closes
Latest final / interim closes
Latest final / interim closes
Total AUM: JPY16,310.7 billionGlobal HQ: Otemachi Financial City South Tower, 9-6, Otemachi 1-chome, Chiyoda-ku, Tokyo, JapanTel: +81 3 3244 1590Web: www.dbj.jp
Year Founded: 1999Fund Strategy: Venture capitalSector Focus: Diversified
Total AUM: USD1.35 billion (as of Jul 2015)Global HQ: Suite 902, 28 Hennessy Road, Hong KongTel: +852 3998 4960Web: www.anchorpe.com
Year Founded: 2012Fund Strategy: GrowthSector Focus: Diversified
Total AUM: EUR43 billion (as of Dec 2015)Global HQ: 27/F Juss Building, 28 South Zhongshan Road, Huangpu District, Shanghai, ChinaTel: +86 21 6333 5032Web: www.fosuncapital.com
Year Founded: 2011Fund Strategy: GrowthSector Focus: Diversified
Total AUM: USD2.5 billion (as of Dec 2015)Global HQ: Suite 705-8, ICBC Tower, 3 Garden Road, Central, Hong KongTel: +852 3972 3900Web: www.fountainvest.com
Year Founded: 2007Fund Strategy: GrowthSector Focus: Consumer Goods, Clean Tech / Renewable, Energy / Oil & Gas, Healthcare, Industrials, Leisure, Retail, TMT, Natural Resources
Fund Name Fund Amount (mn) Primary Strategy
Competitiveness Enhancement Fund JPY150,000 Venture capital
Fund Name Fund Amount (mn) Primary Strategy
Anchor Equity Partners Fund II USD850 Growth
Anchor Equity Partners Fund I USD500 Growth
Fund Name Fund Amount (mn) Primary Strategy
China Momentum Fund USD525 Growth
Fosun Weishi Fund CNY2,000 Growth
Fosun Grand Fund CNY1,500 Growth
Fund Name Fund Amount (mn) Primary Strategy
FountainVest China Growth Capital Fund II USD1,350 Growth
24 private equity international 2016 apac fund manager's guide
SSG CAPITAL MANAGEMENT
BRIGHT STONE (BEIJING) INVESTMENT MANAGEMENT
EVERSTONE CAPITAL
GOLDSTONE INVESTMENT
49
51
50
52
Latest final / interim closes
Latest final / interim closes
Latest final / interim closes
Latest final / interim closes
Total AUM: USD2.0 billion (as of Jan 2016)Global HQ: Suite 7903, The Center, 99 Queen’s Road, Central, Hong KongTel: +852 3909 8888Web: www.ssgasia.com
Year Founded: 2009Fund Strategy: Special Situation/Distressed/Private CreditSector Focus: Diversified
Total AUM: CNY30 billionGlobal HQ: 0908—0916 Tai Peng Building,10 Haidian North Second Street, Haidian District, Beijing, ChinaTel: +86 10 6019 0799Web: www.brightstone-fund.com
Year Founded: 2009Fund Strategy: GrowthSector Focus: Diversified
Total AUM: USD3.3 billion (as of Jan 2016)Global HQ: 163 Penang Road, Winsland House II, #08-01, Singapore Tel: +65 6511 6888Web: www.everstonecapital.com
Year Founded: 2006Fund Strategy: Growth, BuyoutSector Focus: Financial Services, Consumer Goods, Healthcare, Retail, Education, TMT
Total AUM: Global HQ: 17/F,CITIC Securities Tower, No.48 Liangmaqiao Road, Chaoyang District, Beijing, ChinaTel: +86 10 6083 7800 Web: www.cs.ecitic.com/en/BusinessesGoldStone.htm
Year Founded: 2007Fund Strategy: BuyoutSector Focus: Financial Services, Consumer Goods, Energy / Oil & Gas, Healthcare, TMT
Fund Name Fund Amount (mn) Primary Strategy
SSG Capital Partners III USD915 "Distressed / Turnaround
SSG Capital Partners II USD400 "Distressed / Turnaround
Fund Name Fund Amount (mn) Primary Strategy
Wuling Mountain Area Tourism Industry Investment Fund I CNY6,000 Growth
Bright Stone Ke Yuan CNY300 Growth
Bright Stone Jing Yuan CNY500 Growth
Fund Name Fund Amount (mn) Primary Strategy
Everstone Capital Partners III USD730 Buyout
Everstone Capital Partners II USD580 Buyout
Fund Name Fund Amount (mn) Primary Strategy
CITIC Buyout Fund CNY3,000 Buyout
CITIC Goldstone Investment Fund I CNY5,000 Buyout
For an extended profile, see page 15
252016 apac fund manager's guide private equity international
JP MORGAN ASSET MANAGEMENT
Q CAPITAL PARTNERS
CHINA MERCHANTS CAPITAL
CRESCENT CAPITAL PARTNERS
53
55
54
56
Latest final / interim closes
Latest final / interim closes
Latest final / interim closes
Latest final / interim closes
Total AUM: USD1,600 billion (as of Mar 2015)Global HQ: 270 Park Avenue, 7th Floor, New York, United StatesTel: +1 212 648 2180Web: www.jpmorgan.com
Year Founded: 1974Fund Strategy: Growth, BuyoutSector Focus: TMT, Diversified
Total AUM: KRW955 billion Global HQ: 11/F, KAIT Building, 306 Teheran-ro Gangnam-Gu, Seoul, KoreaTel: +82 2 538 2411Web: qcapital.co.kr
Year Founded: 1982Fund Strategy: Venture capitalSector Focus: Consumer Goods, Industrials, TMT, Diversified
Total AUM: CNY718 billionGlobal HQ: 20/F Tower B, East Pacific International Center, 7888 Shennan Avenue, Futian District, Shenzhen, ChinaTel: +86 755 8832 6300Web: www.cmcapital.com.cn/en
Year Founded: 2012Fund Strategy: GrowthSector Focus: Diversified
Total AUM: AUD1.6 billion Global HQ: Level 29, Governor Phillip Tower, 1 Farrer Place, Sydney, AustraliaTel: +61 2 9220 8100Web: www.crescentcap.com.au
Year Founded: 2000Fund Strategy: Growth BuyoutSector Focus: Diversified
Fund Name Fund Amount (mn) Primary Strategy
JPMorgan Digital Growth Fund II USD1,540 Growth
J.P. Morgan China Private Equity Fund USD665 Buyout
J.P. Morgan China Private Investors USD323 Buyout
Fund Name Fund Amount (mn) Primary Strategy
QCP 2011 Corporate Partnership Private Equity Fund KRW400,000 Venture capital
QCP Project Private Equity Fund VI KRW60,000 Venture capital
QCP New Technology Investment Fund 22 KRW10,000 Venture capital
Fund Name Fund Amount (mn) Primary Strategy
China Merchants Mizuho Growth Fund USD20 Growth
ZXJ & China Merchants Private Equity Fund CNY7,500 Growth
Fund Name Fund Amount (mn) Primary Strategy
Crescent V (2015) AUD$675m Growth buyout
Crescent IV (2012) AUD$495m Growth buyout
For an extended profile, see page 17
26 private equity international 2016 apac fund manager's guide
HOPU INVESTMENT MANAGEMENT
CITIC CAPITAL
MULTIPLES ALTERNATE ASSET MANAGEMENT (MULTIPLES PRIVATE EQUITY)
JAPAN INDUSTRIAL SOLUTIONS
57
59
58
60
Latest final / interim closes
Latest final / interim closes
Latest final / interim closes
Latest final / interim closes
Total AUM: USD3.6 billion Global HQ: Suite 203-205 North Tower, Winland Financial Center, 7 Financial Street, Beijing, ChinaTel: +86 10 5181 9600Web:
Year Founded: 2007Fund Strategy: Growth, BuyoutSector Focus: Financial Services, Natural Resources
Total AUM: USD5.2 billion (as of Dec 2015)Global HQ: 28/F, CITIC Tower, 1 Tim Mei Avenue, Central, Hong Kong Tel: +852 3710 6888Web: www.citiccapital.com
Year Founded: 2002Fund Strategy: Venture Capital, BuyoutSector Focus: Diversified
Total AUM: USD1 billion Global HQ: 7th floor, Poonam Chambers - B Wing, Dr. Annie Besant Road, Worli, Mumbai, IndiaTel: +91 22 6624 5500Web: www.multiplesequity.com
Year Founded: 2009Fund Strategy: Buyout, Growth Sector Focus: Diversified
Total AUM: JPY100 billion Global HQ: Marunouchi Mitsui Building 3F, 2-2-2 Marunouchi, Chiyoda-ku, Tokyo, JapanTel: +81 3 6268 0330Web: www.jis.co.jp
Year Founded: 2010Fund Strategy: Distressed / TurnaroundSector Focus: Diversified
Fund Name Fund Amount (mn) Primary Strategy
Hopu Master Fund II USD1,100 Buyout
Fund Name Fund Amount (mn) Primary Strategy
CITIC New Generation Infotech Venture Fund (CITIC Venture Fund) CNY250 Venture Capital
CITIC Capital Venture Partners USD113 Venture Capital
CITIC Capital (Tianjin) Equity Investment Partnership CNY4,000 Buyout
Fund Name Fund Amount (mn) Primary Strategy
Multiples Private Equity Fund II (with Co-Invest Fund ) USD690 Buyout
Multiples Private Equity Fund USD405 Buyout
Fund Name Fund Amount (mn) Primary Strategy
Japan Industrial Solutions Fund I JPY100,000 Distressed / Turnaround
272016 apac fund manager's guide private equity international
CHINA-ASEAN CAPITAL ADVISORY COMPANY
TATA CAPITAL
INVENTIS INVESTMENT HOLDINGS (CHINA)
63
61
64
Latest final / interim closes
Latest final / interim closes
Latest final / interim closes
Total AUM: USD1 billion Global HQ: 67/F Two International Finance Centre, 8 Finance Street, Central, Hong Kong Tel: +852 3125 1800Web: www.china-asean-fund.com
Year Founded: 2009Fund Strategy: GrowthSector Focus: Energy / Oil & Gas, TMT, Transport, Clean Tech / Renewable, Natural Resources
Total AUM: USD1 billionGlobal HQ: Peninsula Business Park, Lower Parel, Mumbai, IndiaTel: +91 22 6745 9000Web: www.tatacapital.com
Year Founded: 2009Fund Strategy: Growth, Buyout, Venture Capital, Distressed / TurnaroundSector Focus: Diversified
Total AUM: USD 5.3 billionGlobal HQ: 1980 Yushan Lu No 14-504, Pudong, Shanghai, ChinaTel: +86 21 6402 5013Web:
Year Founded: 2001Fund Strategy: GrowthSector Focus: Diversified
Fund Name Fund Amount (mn) Primary Strategy
China-ASEAN Investment Cooperation Fund I USD1,000 Growth
Fund Name Fund Amount (mn) Primary Strategy
Tata Opportunities Fund USD600 Growth
Tata Capital Healthcare Fund USD80 Growth
Tata Capital Innovations Fund USD50 Venture Capital
Fund Name Fund Amount (mn) Primary Strategy
Inventis China Growth Fund VI USD1,000 Growth
For an extended profile, see page 19
CHINA EVERBRIGHT INVESTMENT MANAGEMENT62
Latest final / interim closes
Total AUM: HKD50.3 billionGlobal HQ: 46/F, Far East Finance Centre, 16 Harcourt Road, Hong KongTel: +852 2528 9882Web: www.everbright165.com
Year Founded: 2001Fund Strategy: Growth, BuyoutSector Focus: Healthcare, TMT, Diversified
Fund Name Fund Amount (mn) Primary Strategy
China Everbright ReinFore Special Opportunities Fund USD355 Growth
Everbright Medical Healthcare Fund II CNY1000 Buyout
Everbright Medical Healthcare Fund I CNY600 Buyout
28 private equity international 2016 apac fund manager's guide
L CAPITAL MANAGEMENT
UNISON CAPITAL
ASCENDENT CAPITAL PARTNERS (ASIA) LIMITED
BLUE ECONOMY ZONE INDUSTRIAL FUND MANAGEMENT
65
67
66
68
Latest final / interim closes
Latest final / interim closes
Latest final / interim closes
Latest final / interim closes
Total AUM: EUR1 billion (as of Dec 2015)Global HQ: 18 rue Francois 1er, Paris, FranceTel: +33 1 4413 2330Web: www.lcapital.eu
Year Founded: 2001Fund Strategy: Buyout, Venture Capital, GrowthSector Focus: Consumer Goods, Leisure, Retail
Total AUM: JPY240 billion (as of Dec 2015)Global HQ: The New Otani Garden Court 9F, 4-1 Kioicho, Chiyoda-ku, Tokyo, JapanTel: +81 3 3511 3901Web: www.unisoncap.com
Year Founded: 1998Fund Strategy: BuyoutSector Focus: Diversified
Total AUM: USD965 million (as of Aug 2015)Global HQ: Suite 1609, 16/F, Jardine House, 1 Connaught Place, Central, Hong Kong Tel: +852 2165 9000Web: www.ascendentcp.com
Year Founded: 2011Fund Strategy: GrowthSector Focus: Diversified
Total AUM: Global HQ: 17F, Tower 2, Aosheng Building, Lixia District, Jinan, Shangdong, China Tel: +86 531 6862 1580 - 8049Web: www.bluefund.cn
Year Founded: 2012Fund Strategy: Buyout, Venture Capital, GrowthSector Focus: Diversified
Fund Name Fund Amount (mn) Primary Strategy
L Capital Asia 2 USD980 Venture Capital
Fund Name Fund Amount (mn) Primary Strategy
Unison Capital Private Equity Fund (Korea) KRW307,500 Buyout
Unison Capital Partners IV JPY75,000 Buyout
Fund Name Fund Amount (mn) Primary Strategy
Ascendent Capital Partners II USD600 Growth
Ascendent Capital Partners I USD365 Growth
Fund Name Fund Amount (mn) Primary Strategy
Blue Economy Zone Industrial Fund I CNY4,950 Growth
Shandong Blue Ocean Kingking Industrial Investment Fund CNY500 Growth
292016 apac fund manager's guide private equity international
CHRYSCAPITAL
STIC INVESTMENTS
CHINA INTERNATIONAL CAPITAL CORPORATION
NEXUS VENTURE PARTNERS
69
71
70
72
Latest final / interim closes
Latest final / interim closes
Latest final / interim closes
Latest final / interim closes
Total AUM: USD2.5 billionGlobal HQ: Suite 111, 11F, Maker Chambers VI, Nariman Point, Mumbai, IndiaTel: +91 22 4066 8000Web: www.chryscapital.com
Year Founded: 1999Fund Strategy: Buyout, Venture Capital, GrowthSector Focus: Financial Services, Consumer Goods, Healthcare, Industrials, Business Services
Total AUM: USD3.4 billion (as of Dec 2015)Global HQ: 10F. MSA Bldg., 12, Teheran-ro 78-gil, Gangnam-gu, Seoul, South KoreaTel: +82 2 3404 7800Web: www.stic.co.kr
Year Founded: 1999Fund Strategy: Buyout, Venture Capital, Growth, SecondariesSector Focus: Diversified
Total AUM: CNY12.3 billion (as of June 2015)Global HQ: 28th Floor, China World Office 2, No. 1 Jian Guo Men Wai Avenue, Beijing, ChinaTel: +86 10 6505 1166Web: www.cicc.com.cn
Year Founded: 1995Fund Strategy: GrowthSector Focus: Consumer Goods, Clean Tech / Renewable, Energy / Oil & Gas, Healthcare
Total AUM: USD10 billion (as of Dec 2015)Global HQ: G-2, Sarjan Plaza, 100, Dr. Annie Besant Road, Worli, Mumbai, IndiaTel: +91 22 6626 0000Web: www.nexusvp.com
Year Founded: 2006Fund Strategy: Venture CapitalSector Focus: Consumer Goods, Business Services, TMT
Fund Name Fund Amount (mn) Primary Strategy
ChrysCapital VI USD510 Growth
ChrysCapital VII USD350 Growth
Fund Name Fund Amount (mn) Primary Strategy
STIC CJ Global Investment Corporate Private Equity Fund KRW500,000 Buyout
STIC Pan-Asia Technology Fund KRW138,500 Venture Capital
Fund Name Fund Amount (mn) Primary Strategy
CICC Jiatai Industry Integration Fund CNY5,000 Growth
CICC Jiatian Private Equity Fund CNY400 Growth
Fund Name Fund Amount (mn) Primary Strategy
Nexus Top-up Opportunity Fund USD130 Venture Capital
Nexus India Capital IV USD450 Venture Capital
Nexus India Capital III USD270 Venture Capital
30 private equity international 2016 apac fund manager's guide
SOFTBANK CHINA VENTURE CAPITAL
HAITONG SECURITIES
ICICI VENTURE
BANYAN CAPITAL
73
75
74
76
Latest final / interim closes
Latest final / interim closes
Latest final / interim closes
Latest final / interim closes
Total AUM: USD1.6 billion (as of Feb 2016)Global HQ: 15A-C, HuaMin Empire Plaza, 728 YanAn Road (West), Shanghai, ChinaTel: +86 21 5253 4888Web: www.sbcvc.com
Year Founded: 2000Fund Strategy: Venture Capital, GrowthSector Focus: Consumer Goods, Healthcare, TMT, Renewable, Energy / Oil & Gas
Total AUM: - Global HQ: 12/F, Haitong Securities Tower, 689 Guangdong Road, Shanghai, ChinaTel: +86 21 2321 9000Web: www.htsec.com
Year Founded: 1988Fund Strategy: Buyout, Growth, Venture CapitalSector Focus: Diversified
Total AUM: USD2 billion (as of Dec 2015)Global HQ: ICICI Venture House, Ground Floor, Appasaheb Marathe Marg, Prabhadevi, Mumbai, IndiaTel: +91 22 6655 5050Web: www.iciciventure.com
Year Founded: 1988Fund Strategy: Buyout, Growth, Mezzanine / Debt, Distressed / TurnaroundSector Focus: Diversified
Total AUM: USD854 million (as of Dec 2015)Global HQ: Room 1900, Tower A, Ping An International Financial Center, 1 Xin Yuan South Road, Beijing, ChinaTel: +86 10 8444 2729Web: www.banyanvc.com
Year Founded: 2013Fund Strategy: GrowthSector Focus: TMT
Fund Name Fund Amount (mn) Primary Strategy
SBCVC Fund V USD458 Venture Capital
SBCVC Fund IV USD387 Venture Capital
Fund Name Fund Amount (mn) Primary Strategy
Haitong RMB Buyout Fund I CNY1,150 Buyout
Liaoning New Energy and Low Carbon Investment Fund - Joint Venture CNY1,000 Growth
Shanghai Cultural Industry Fund CNY3,000 Venture Capital
Fund Name Fund Amount (mn) Primary Strategy
AION Capital Partners Fund I - Joint Venture USD825 Distressed / Turnaround
Fund Name Fund Amount (mn) Primary Strategy
Banyan Partners RMB Fund II CNY560 Growth
Banyan Partners Fund II USD362 Growth
Banyan Partners RMB Fund I CNY320 Growth
312016 apac fund manager's guide private equity international
HARVEST FUND MANAGEMENT
AGRICULTURAL BANK OF CHINA
VISION KNIGHT CAPITAL
TAIKANG ASSET MANAGEMENT
77
79
78
80
Latest final / interim closes
Latest final / interim closes
Latest final / interim closes
Latest final / interim closes
Total AUM: CNY227 billionGlobal HQ: 16/F China Resources Building, No.8 Jianguomen Beidajie, Beijing, ChinaTel: +86 10 6521 5588Web: www.jsfund.cn
Year Founded: 1999Fund Strategy: Venture Capital, GrowthSector Focus: TMT
Total AUM: -Global HQ: No.69, Jianguomen Nei Avenue, Dongcheng District, Beijing, ChinaTel: +86 10 8510 9619Web: www.abchina.com/en/
Year Founded: 1951Fund Strategy: Buyout, GrowthSector Focus: Industrials, Business Services, TMT
Total AUM: USD800 millionGlobal HQ: Unit 1, 33rd Floor, Kerry Parkside Office, 1155 Fangdian Rd. Pudong District, Shanghai, ChinaTel: +86 21 2028 1659 Web: www.vkcpartners.com
Year Founded: 2011Fund Strategy: Venture Capital, GrowthSector Focus: Consumer Goods, TMT
Total AUM: CNY830 billion (as of Dec 2015)Global HQ: Excel Center 3rd Floor, 6 Wudinghou Street, Xicheng District, Beijing, ChinaTel: +86 10 5769 1888Web: www.taikang.com/tkzc/
Year Founded: 2006Fund Strategy: BuyoutSector Focus: Financial Services, Biotech / Life Science, Energy / Oil & Gas, Healthcare, TMT, Transport, Agribusiness
Fund Name Fund Amount (mn) Primary Strategy
Harvest Seven Stars Media USD800 Venture Capital
Fund Name Fund Amount (mn) Primary Strategy
ABC (Hunan) No.1 Equity Investment CNY10 Buyout
ABCI Wuxi Equity Investment Fund CNY5,000 Growth
Fund Name Fund Amount (mn) Primary Strategy
Vision Knight Capital (China) Entrepreneur Fund II USD50 Venture Capital
Vision Knight Capital (China) Fund II USD500 Venture Capital
Vision Knight Capital (China) Fund I USD250 Venture Capital
Fund Name Fund Amount (mn) Primary Strategy
Tasly Holding Healthcare Fund CNY500 Buyout
32 private equity international 2016 apac fund manager's guide
THE BLACKSTONE GROUP
GUANGDONG ZHONGGUANG INVESTMENT MANAGEMENT
AEROSPACE INDUSTRY INVESTMENT FUND MANAGEMENT
BOC YUECAI PRIVATE EQUITY
81
83
82
84
Latest final / interim closes
Latest final / interim closes
Latest final / interim closes
Latest final / interim closes
Total AUM: USD344 billion (as of March 2016)Global HQ: 345 Park Avenue, New York, United StatesTel: +1 64 6313 6590Web: www.blackstone.com
Year Founded: 1985Fund Strategy: Buyout, Venture Capital, Growth, Mezzanine / Debt, Distressed / DebtSector Focus: Diversified
Total AUM: -Global HQ: 21F, Guangzhou West Tower, Tianhe District, Guangzhou, ChinaTel: +86 20 8883 6036Web: www.zgfunds.com
Year Founded: 2012Fund Strategy: VentureSector Focus: TMT
Total AUM: CNY5 billion Global HQ: 5F, Aerospace Financial Building, 31 Ping'anli West Street, Xicheng District, Beijing, ChinaTel: -Web: -
Year Founded: 2009Fund Strategy: GrowthSector Focus: Financial Services, Consumer Goods, Energy / Oil & Gas, TMT
Total AUM: CNY10 billion (as of Dec 2015)Global HQ: No.481, Dongfeng Road, Guangdong Finance Building, 15th Floor, Guangdong, ChinaTel: +86 20 8306 3888Web: www.gdyctz.com
Year Founded: 1984Fund Strategy: GrowthSector Focus: Diversified
Fund Name Fund Amount (mn) Primary Strategy
Shanghai Blackstone Equity Investment Partnership (Zhonghua Development Investment Fund) CNY5,000 Buyout
Fund Name Fund Amount (mn) Primary Strategy
Guangdong Radio and Television Fund CNY5,000 Venture Capital
Fund Name Fund Amount (mn) Primary Strategy
Aerospace Industry Investment Fund I CNY5,030 Growth
Fund Name Fund Amount (mn) Primary Strategy
Guangdong SME Direct Equity Investment Fund CNY5,000 Growth
332016 apac fund manager's guide private equity international
YELLOW RIVER DELTA INDUSTRY FUND MANAGEMENT
GOLDMAN SACHS MERCHANT BANKING DIVISION
KB INVESTMENT
QUADRANT PRIVATE EQUITY
85
87
86
88
Latest final / interim closes
Latest final / interim closes
Latest final / interim closes
Latest final / interim closes
Total AUM: -Global HQ: 6F, 9 BLK, Zhenzhuquan, Quancheng Rd., Jinan, ChinaTel: +86 531 8510 7763Web: www.yrdfund.cn
Year Founded: 2011Fund Strategy: Venture CapitalSector Focus: Clean Tech / Renewable, Energy / Oil & Gas, TMT
Total AUM: USD89 billionGlobal HQ: 200 West Street, 29F New York, USATel: +1 212 902 0300Web: www.gs.com
Year Founded: 1986Fund Strategy: Buyout, Venture Capital, Growth, Mezzanine / Debt, Distressd / TurnaroundSector Focus: Diversified
Total AUM: USD1.4 billionGlobal HQ: 9F, 731 Yeongdong-daero Blvd, Gangnam-gu, Seoul, South KoreaTel: +82 2 545 5092Web: www.kbic.co.kr
Year Founded: 1990Fund Strategy: Buyout, Venture Capital, GrowthSector Focus: Diversified
Total AUM: AUD2.5 billionGlobal HQ: Level 30, Deutsche Bank Place, 126 Phillip Street, Sydney, AustraliaTel: +1 612 9221 3044Web: www.quadrantpe.com.au
Year Founded: 1996Fund Strategy: Buyout, GrowthSector Focus: Diversified
Fund Name Fund Amount (mn) Primary Strategy
Yellow River Delta Industry Fund I CNY5,000 Venture Capital
Fund Name Fund Amount (mn) Primary Strategy
Broad Street (Beijing) 2011 Investment Center USD3,500 Buyout
Fund Name Fund Amount (mn) Primary Strategy
Quadrant Private Equity No. 4 AUD850 Growth
Fund Name Fund Amount (mn) Primary Strategy
KB12-1 Venture KRW30,000 Venture Capital
KT Global Investment Partnership PEF KRW475,000 Venture Capital
KoFC Value-Up Private Equity Fund KRW65,000 Buyout
34 private equity international 2016 apac fund manager's guide
WOORI ASSET MANAGEMENT
SHINHAN PRIVATE EQUITY
CHINA SCIENCE & MERCHANTS INVESTMENT (FUND) MANAGEMENT (CSMI)
CREADOR
89
91
90
92
Latest final / interim closes
Latest final / interim closes
Latest final / interim closes
Latest final / interim closes
Total AUM: KRW20,434 billionGlobal HQ: 9th Floor, Finance Tower, Yeoido-dong, Yongdeungpo-ku, Seoul, South KoreaTel: +82 2 789 0300Web: www.wooriam.com
Year Founded: 1988Fund Strategy: Growth, BuyoutSector Focus: Energy / Oil & Gas, Natural Resources
Total AUM: - Global HQ: 100-102 Daekyung Bldg., 120 Bungi Taepyeong-ro 2 ga, Jung-gu, Seoul, South KoreaTel: +82 2 756 0505Web: www.shinhan.com/en/about/network/sh_private.jsp
Year Founded: 2004Fund Strategy: Buyout, GrowthSector Focus: Diversified
Total AUM: CNY60 billionGlobal HQ: Room 5001, China World Tower III, No. 1 Jianguomenwai Ave, Beijing, ChinaTel: +86 10 5765 2211Web: www.csm-inv.com
Year Founded: 2000Fund Strategy: Venture Capital, GrowthSector Focus: Diversified
Total AUM: USD460 millionGlobal HQ: 8F, Menara BRDB 285, Jalan Ma'arof Bukit Bandar Raya, Kuala Lumpur, MalaysiaTel: +60 3 2182 6888Web: www.creador.com
Year Founded: 2011Fund Strategy: GrowthSector Focus: Diversified
Fund Name Fund Amount (mn) Primary Strategy
Woori AM & Sprott Consulting Energy and Resources Fund - Co-Investment USD375 Growth
Woori AM & Sprott Consulting Energy and Resources Fund - Separate Account USD375 Growth
Fund Name Fund Amount (mn) Primary Strategy
Shinhan-Stonebridge Petro Private Equity Fund KRW818,000 Buyout
Fund Name Fund Amount (mn) Primary Strategy
CSMI RuiAn Fund CNY100 Growth
Dongguan CSM Zhongguang Private Equity Fund CNY1,550 Growth
Nanchang CSMI Venture Capital Fund CNY1,000 Venture Capital
Fund Name Fund Amount (mn) Primary Strategy
Creador III USD250 Growth
Creador II USD330 Growth
Creador I USD132 Growth
352016 apac fund manager's guide private equity international
INDIA VALUE FUND ADVISORS
IMM PRIVATE EQUITY
SUMMITVIEW CAPITAL
CHINA CULTURE INDUSTRIAL INVESTMENT FUND MANAGEMENT
93
95
94
96
Latest final / interim closes
Latest final / interim closes
Latest final / interim closes
Latest final / interim closes
Total AUM: USD1.8 billionGlobal HQ: Suite F9C, Grand Hyatt Plaza, Santacruz East, Mumbai, IndiaTel: +91 22 6682 4888Web: www.ivfa.com
Year Founded: 1999Fund Strategy: BuyoutSector Focus: Diversified
Total AUM: USD2.7 billionGlobal HQ: 5F Gangnam Finance Center, 737 Yeoksam-dong, Gangnam-Ku, Seoul, South KoreaTel: +82 2 2112 1780Web: www.immpe.co.kr
Year Founded: 2006Fund Strategy: Buyout, GrowthSector Focus: Diversified
Total AUM: CNY1.2 billionGlobal HQ: Room 1101, No. 18 Poly Plaza Block E, Dongfang Road, Shanghai, ChinaTel: +86 21 6881 6012Web: www.summitviewcapital.com
Year Founded: 2011Fund Strategy: Venture CapitalSector Focus: Consumer Goods, Clean Tech / Renewable, Healthcare, TMT
Total AUM: CNY4.1 billionGlobal HQ: 12/F, No. 28, Fengsheng Hutong, Xicheng District, Beijing, ChinaTel: +86 10 5750 3518Web: www.chinacf.com
Year Founded: 2011Fund Strategy: GrowthSector Focus: Leisure, TMT
Fund Name Fund Amount (mn) Primary Strategy
India Value Fund V USD700 Buyout
Fund Name Fund Amount (mn) Primary Strategy
IMM RoseGold PEF II KRW720,000 Growth
Fund Name Fund Amount (mn) Primary Strategy
Shangahai Summitview Integrated Circuit Information Industry Venture Capital Fund I CNY3,000 Venture Capital
Summitview Capital Investment Enterprise CNY1,200 Venture Capital
Fund Name Fund Amount (mn) Primary Strategy
China Culture Industrial Investment Fund I CNY4,100 Growth
36 private equity international 2016 apac fund manager's guide
CINDA CAPITAL
OLYMPUS CAPITAL HOLDINGS ASIA
SHENYANG DARUI INVESTMENT MANAGEMENT COMPANY
SARATOGA CAPITAL GROUP
97
99
98
Latest final / interim closes
Latest final / interim closes
Latest final / interim closes
Latest final / interim closes
Total AUM: -Global HQ: 29 Dongzhong Street , Dong Cheng District, Beijing, ChinaTel: +86 10 6418 1266Web: www.cinda.com.cn
Year Founded: 1994Fund Strategy: Buyout, Growth, Mezzanine / Debt, Distressed / TurnaroundSector Focus: Diversified
Total AUM: -Global HQ: Suite 3406, One Exchange Square, Hong KongTel: +852 2140 0500Web: www.olympuscap.com
Year Founded: 1997Fund Strategy: Buyout, Venture Capital, Growth, Mezzanine / Debt, Distressed / TurnaroundSector Focus: Diversified
Total AUM: CNY4 billionGlobal HQ: Nanjing North Street, Heping DistrictLiaoning Province, Shenyang, ChinaTel: -Web: -
Year Founded: 2006Fund Strategy: Venture Capital, GrowthSector Focus: Diversified
Total AUM: USD2.5 billionGlobal HQ: 3 Phillip Street, #15-01 Commerce Point, SingaporeTel: +65 6536 8661Web: www.saratoga-asia.com
Year Founded: 1998Fund Strategy: BuyoutSector Focus: Consumer Goods, Energy / Oil & Gas, TMT, Transport, Natural Resources
Fund Name Fund Amount (mn) Primary Strategy
China Agricultural Industrial Development Fund CNY4,000 Growth
Fund Name Fund Amount (mn) Primary Strategy
Olympus Capital Asia V USD330 Growth
Asia Environmental Partners II USD277 Growth
Fund Name Fund Amount (mn) Primary Strategy
Liaoning Equipment Manufacturing Industry Fund I CNY4,000 Growth
Fund Name Fund Amount (mn) Primary Strategy
Saratoga Asia III USD600 Buyout
100
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SAMPLE CONTENT AVAILABLE ONLINE
SPECIAL OFFER TO SUBSCRIBERS:Order your copy today quoting SUBBK15 and receive a 15% discount
MANAGING PRIVATE FUND DISPUTESEssential strategies for preventing and resolving litigation and regulatory risks
This book will help you:
• Understand how litigation and the risk of litigation impacts the activities of private funds
• Optimise your chance of success in a dispute process.
• Assess the pros and cons of arbitration
• Get familiar with typical sources of disputes
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38 private equity international 2016 apac fund manager's guide
ASIA-PACIFIC-FOCUSED PRIVATE EQUITY FUNDS IN MARKET (AS OF 13 JUNE 2016)
Fund Name Fund Manager Target Size ($mn) Launch Year Fund Strategy
500 Kimchi 500 Startups $15 2015 Venture Capital / Growth Equity
500 Startups Japan 500 Startups $30 2015 Venture Capital / Growth Equity
500 TukTuks 500 Startups $10 2015 Venture Capital / Growth Equity
500 Kulfi 500 Startups $25 2016 Venture Capital / Growth Equity
500 Startups Vietnam 500 Startups $10 2016 Venture Capital / Growth Equity
5ideas Startup Superfuel Fund 5ideas $10 2012 Venture Capital / Growth Equity
Aavishkaar Frontier Fund Aavishkaar $75 2013 Venture Capital / Growth Equity
Aavishkaar India-focused fund Aavishkaar $300 2015 Venture Capital / Growth Equity
Asian Growth II ACA Inc. $100 2013 Buyout / Corporate Private Equity
Adamas Asset Management Fund II (Greater China Credit Fund)
Adamas Asset Management $200 2012 Mezzanine / Debt
Adamas Ping An Co-Managed Debt fund Adamas Asset Management $500 2015 Mezzanine / Debt
The ADM Capital Somei Lending Platform ADM Capital $200 2016 Mezzanine / Debt
Advantage Partners Asia Fund Advantage Partners $400 2015 Buyout / Corporate Private Equity
Digital Accelerator LP Adventure Capital $61 2012 Venture Capital / Growth Equity
Aequus Asia Healthcare Fund Aequus Capital Partners $200 2014 Venture Capital / Growth Equity
ABC (Hunan) No.1 Equity Investment Agricultural Bank of China $491 2014 Buyout / Corporate Private Equity
AID Partners Capital II AID Partners $500 2013 Venture Capital / Growth Equity
AirTreeVentures Fund II AirTreeVentures $77 2016 Venture Capital / Growth Equity
Alibaba Group/ SAIC Motor Internet-enabled Car Fund Alibaba Group $164 2015 Venture Capital / Growth Equity
Amicus Capital Amicus Capital $200 2014 Buyout / Corporate Private Equity
Japan Fund IV Ant Capital Partners $162 2014 Secondaries
AppWorks Fund II AppWorks $51 2015 Venture Capital / Growth Equity
AquaVentures Fund AquaVentures - 2015 Venture Capital / Growth Equity
ArborVenture Fund I ArborVentures $125 2014 Venture Capital / Growth Equity
SlingshotVenture Fund Artesian Capital Management $8 2013 Venture Capital / Growth Equity
iAccelerate start-up incubator fund Artesian Capital Management $8 2014 Venture Capital / Growth Equity
SBS Asia I Investors Asia Alternatives Management LLC $250 2014 Fund of Funds / Co-Investment
Asia Alternatives Ivory Partners III Asia Alternatives Management LLC - 2015 Fund of Funds / Co-Investment
Asia Growth Capital Secondaries Fund I Asia Growth Capital Advisors $500 2016 Secondaries
AsiaBridge Fund II AsiaBridge Capital $250 2013 Venture Capital / Growth Equity
Asian Healthcare Fund II Asian Healthcare Fund $150 2015 Venture Capital / Growth Equity
AstarcVentures Seed Fund Astarc Group $2 2014 Venture Capital / Growth Equity
AuraVenture Fund Aura Group $23 2016 Venture Capital / Growth Equity
Medical Research Future Fund Australia Future Fund $15,300 2015 Venture Capital / Growth Equity
Avendus Special Situations Fund III Avendus Capital $79 2013Venture Capital /
Growth Equity
Avenue Asia Special Situations Fund V Avenue Capital - 2016 Mezzanine / Debt
Axiom Asia IV Axiom Asia Private Capital - 2015Fund of Funds / Co-Investment
Bertelsmann Asia Investment Betafund Bertelsmann - 2014 Venture Capital / Growth Equity
Blackfox Private Partners Fund Blackfox - 2015 Venture Capital / Growth Equity
Shandong Blue Ocean Kingking Industrial Investment Fund
Blue Economy Zone Industrial Fund Management
$164 2016 Venture Capital / Growth Equity
Australia VC Fund II (VC 2014) Blue Sky Alternative Investments $23 2014 Venture Capital / Growth Equity
Australia VC Fund III Blue Sky Alternative Investments $153 2015 Venture Capital / Growth Equity
Blue Sky Strategic Australian Agriculture Fund Blue Sky Alternative Investments $230 2015 Venture Capital / Growth Equity
BlueChilliVenture Fund BlueChilli $10 2013 Venture Capital / Growth Equity
BRV Lotus Growth Fund 2015 BlueRunVentures - 2015 Venture Capital / Growth Equity
BlumeVentures Fund II BlumeVentures $60 2014 Venture Capital / Growth Equity
Huamei FundBohai Industrial Investment Fund Management
$1,500 2014 Buyout / Corporate Private Equity
Bona Noah Film & Television Fund Bona Film Group $164 2013 Venture Capital / Growth Equity
Boxin China Growth Fund I Boxin Capital $200 2011 Venture Capital / Growth Equity
Wuling Mountain Area Tourism Industry Investment Fund I
Bright Stone (Beijing) Investment Management
$786 2013 Venture Capital / Growth Equity
Navegar Fund Brummer & Partners $100 2013 Venture Capital / Growth Equity
Frontier Bangladesh II Brummer & Partners $100 2014 Venture Capital / Growth Equity
BT Capital Group Media Fund BT Capital Group $500 2013 Venture Capital / Growth Equity
Bull Capital China Growth Fund II Bull Capital Partners $400 2014 Venture Capital / Growth Equity
BioVeda China Fund IV BVCF $400 2016 Venture Capital / Growth Equity
CanbankVenture Capital Fund VI CanbankVenture Capital Fund Ltd. $79 2014 Venture Capital / Growth Equity
CapAleph Indian Millennium SME Fund CapAleph Advisors $20 2015 Venture Capital / Growth Equity
Capital Dynamics Japan Fund Capital Dynamics $122 2013 Fund of Funds / Co-Investment
392016 apac fund manager's guide private equity international
Fund Name Fund Manager Target Size ($mn) Launch Year Fund Strategy
Capital Today Evergreen Fund Capital Today $400 2014 Buyout / Corporate Private Equity
Capvent Asia Private Equity III (CAPE III) Capvent $300 2012 Fund of Funds / Co-Investment
Carpediem Capital Partners Fund I Carpediem Capital $87 2014 Buyout / Corporate Private Equity
CASREV Fund II CAS Investment Management Co $150 2015 Venture Capital / Growth Equity
Caspian Impact Investments (CII) Caspian Impact Investment Adviser $40 2013 Mezzanine / Debt
CDH China Mid-market Fund CDH Investments $600 2015 Buyout / Corporate Private Equity
CDH Growth Fund III CDH Investments - 2015 Buyout / Corporate Private Equity
CDIB Capital Technology Partners CDIB Capital International Corporation $170 2016 Venture Capital / Growth Equity
Champ IV Fund CHAMP Private Equity $1,150 2015 Buyout / Corporate Private Equity
Yangtze River Economic Zone Industrial Buyout Fund
Changjiang Securities $819 2014 Buyout / Corporate Private Equity
Cheraman Premium Fund Cheraman Group $39 2013 Venture Capital / Growth Equity
CherubicVentures RMB Fund I CherubicVentures $49 2015 Venture Capital / Growth Equity
China Broadband Capital Partners IIIChina Broadband Capital Partners (CBC Capital)
$500 2014 Venture Capital / Growth Equity
Everbright Medical Healthcare Fund II China Everbright Investment Management $196 2013 Buyout / Corporate Private Equity
China Everbright Multi Strategy Fund of Funds China Everbright Investment Management $1,640 2015 Fund of Funds / Co-Investment
CICC Qianhai Development Fund China International Capital Corporation $3,270 2014 Venture Capital / Growth Equity
China Life Sciences Access Fund China Life Sciences Access Fund $80 2013 Venture Capital / Growth Equity
China Film Fund China Media Capital $300 2015 Buyout / Corporate Private Equity
China Media Creative Industrial Investment Fund II China Media Capital $164 2015 Buyout / Corporate Private Equity
China Merchants Mizuho Growth Fund China Merchants Capital $200 2011 Venture Capital / Growth Equity
Shenzhen Qianhai Orient Aier Medical Industry M&A Fund
China Orient Asset Management Corporation (COAMC)
$33 2014 Buyout / Corporate Private Equity
China Harvest Fund III China Renaissance Capital Investment $750 2012 Venture Capital / Growth Equity
CSMI RuiAn FundChina Science & Merchants Investment (Fund) Management (CSMI)
$49 2013 Venture Capital / Growth Equity
Dongguan CSM Zhongguang Private Equity FundChina Science & Merchants Investment (Fund) Management (CSMI)
$819 2013 Venture Capital / Growth Equity
Yangquan Coal Kinglink Investment Fund (YCKIF) China Soft Capital $491 2014 Buyout / Corporate Private Equity
CDIB BiotechVenture Capital Fund ChinaVenture Management $51 2014 Venture Capital / Growth Equity
ChrysCapital VII ChrysCapital $600 2015 Venture Capital / Growth Equity
Chushang CapitalVenture Capital Fund Chushang Capital $82 2014 Venture Capital / Growth Equity
ASEAN Industrial Growth Fund (AIGF) CIMB Private Equity &Venture Capital $200 2013 Venture Capital / Growth Equity
CITIC Capital China Partners III CITIC Capital $1,500 2016 Buyout / Corporate Private Equity
CITIC Capital Japan Partners III CITIC Capital - 2016 Buyout / Corporate Private Equity
ClearVue Partners II ClearVue Partners $425 2015 Venture Capital / Growth Equity
Clearwater Capital Partners Fund V Clearwater Capital Partners $650 2016 Mezzanine / Debt
Yi Ming China Fund CMIA Capital Partners $150 2014 Venture Capital / Growth Equity
COPE Opportunities IV CMS Opus Private Equity $94 2015 Venture Capital / Growth Equity
Cobalt Equity Partners Fund I Cobalt Equity Partners $500 2015 Venture Capital / Growth Equity
Conchubar Clean Energy Fund Conchubar Capital Management $150 2013 Venture Capital / Growth Equity
Contrarian Opportunities Fund I Contrarian Capital India Partners $50 2013 Venture Capital / Growth Equity
Contrarian Vriddhi Fund - 1 Contrarian Drishti Partners $9 2014 Venture Capital / Growth Equity
South Sea Growth Fund VI Cowin Capital $246 2014 Venture Capital / Growth Equity
Creador III Creador $450 2015 Venture Capital / Growth Equity
Chongqing Run Ke Equity Investment Fund Credit China $164 2013 Mezzanine / Debt
CX Partners Fund II CX Partners $400 2013 Venture Capital / Growth Equity
CA Asia Internet Fund II CyberAgentVentures $50 2015 Venture Capital / Growth Equity
Cybernaut Skolkovo Fund Cybernaut Capital $200 2015 Venture Capital / Growth Equity
DCMVentures China Turbo Affiliates Fund DCM-Doll Capital Management $10 2014 Venture Capital / Growth Equity
DCMVentures China Turbo Fund DCM-Doll Capital Management $170 2014 Venture Capital / Growth Equity
DCMVentures China Fund (DCM VIII) DCM-Doll Capital Management $400 2015 Venture Capital / Growth Equity
Decheng Capital China Life Sciences USD Fund II Decheng Capital $250 2015 Venture Capital / Growth Equity
China Sports - Dingxin Industrial Fund Dingxin Capital $49 2013 Venture Capital / Growth Equity
Mekong Brahmaputra Clean Development Fund II Dragon Capital (Vietnam) $100 2016 Venture Capital / Growth Equity
Athena Annex Draper Fisher Jurvetson $8 2013 Venture Capital / Growth Equity
Japanese Limited Partnership DRC III DRC Capital Ltd. $122 2014 Buyout / Corporate Private Equity
DSG Consumer Partners II DSG Consumer Partners $50 2015 Venture Capital / Growth Equity
Eagle Asia Fund III Eagle Asia Partners - 2015 Fund of Funds / Co-Investment
EW Special Opportunities Fund II (ESOF II) Edelweiss Capital $400 2015 Mezzanine / Debt
Edmond de Rothschild Investment Partners China II Edmond de Rothschild Investment Partners $204 2014 Venture Capital / Growth Equity
SeedSurge eHealth TBI $16 2013 Venture Capital / Growth Equity
EGAT Public Infrastructure FundElectricity Generating Authority of Thailand (EGAT)
$639 2015 Venture Capital / Growth Equity
Cambodia-Laos Development Fund II (CLDF II) Emerging Market Investments (EMI) $70 2015 Venture Capital / Growth Equity
Cambodia-Laos-Myanmar Development Fund IIEmerging Markets Investment Advisers (duplicate)
$70 2015 Buyout / Corporate Private Equity
40 private equity international 2016 apac fund manager's guide
Fund Name Fund Manager Target Size ($mn) Launch Year Fund Strategy
EMR Capital Co-Investment EMR Capital $140 2014 Venture Capital / Growth Equity
EMR Capital Resources Fund II EMR Capital $750 2016 Venture Capital / Growth Equity
Endiya Partners Fund I Endiya Partners $30 2015 Venture Capital / Growth Equity
EVC II Entrepreneurship andVenture Capital $50 2016 Venture Capital / Growth Equity
Espirito Santo India Fund Espirito Santo Capital $340 2013 Venture Capital / Growth Equity
Evolvence India Fund II Evolvence India $400 2013 Fund of Funds / Co-Investment
Excelsior Capital Asia Partners V Excelsior Capital Asia $240 2014 Venture Capital / Growth Equity
Regional Early Stage Fund Expara $22 2015 Venture Capital / Growth Equity
EXS Capital Fund EXS Capital - 2013 Buyout / Corporate Private Equity
Fairwinds II Fairwinds Asset Managers $300 2014 Buyout / Corporate Private Equity
Falcon House Partners Indonesia Fund II Falcon House Partners $300 2015 Venture Capital / Growth Equity
FE Asia Clean Energy Fund FE Clean Energy Group $250 2014 Venture Capital / Growth Equity
FenoxVenture Capital Bangladesh Fund FenoxVenture Capital $200 2014 Venture Capital / Growth Equity
F8 Asia Growth SPV Formation 8 $400 2015 Venture Capital / Growth Equity
Fortune Chongwing Fund FortuneVenture Capital $819 2014 Venture Capital / Growth Equity
Fosun India Growth Fund Fosun Capital Group $1,000 2013 Venture Capital / Growth Equity
Fosun Weishi Fund Fosun Capital Group $409 2013 Venture Capital / Growth Equity
FountainVest China Capital Partners Fund III FountainVest Partners - 2016 Venture Capital / Growth Equity
Franklin Templeton Private Equity Strategy II Franklin Templeton Investments $94 2014 Mezzanine / Debt
CLMV Opportunities Fund Frontier Investment & Development Partners $100 2013 Venture Capital / Growth Equity
FulcrumVenture India Fund III FulcrumVenture India $50 2015 Venture Capital / Growth Equity
GF Xinde Healthcare Industry Fund GF Xinde Investment Management - 2013 Buyout / Corporate Private Equity
Glade Brook Private Investors VII Glade Brook Capital Partners - 2015 Venture Capital / Growth Equity
Glade Brook Private Investors VIII Glade Brook Capital Partners - 2016 Venture Capital / Growth Equity
Global Brain No.5 Investment Limited Partnership Global Brain Corporation $122 2013 Venture Capital / Growth Equity
Globis Fund IV Globis Capital Partners & Co. (GCP) $122 2012 Venture Capital / Growth Equity
Gobi ASEAN Fund II Gobi Partners $100 2012 Venture Capital / Growth Equity
Technology and Innovation Fund I Golden Equator Capital $44 2015 Venture Capital / Growth Equity
GravityVenture Capital Fund I GravityVenture Capital $30 2015 Venture Capital / Growth Equity
GRC SinoGreen Fund III GRC Managers $200 2012 Venture Capital / Growth Equity
AT-I Investment GREEVentures - 2014 Venture Capital / Growth Equity
AT-II Investment GREEVentures $568 2016 Venture Capital / Growth Equity
GSRVentures RMB Fund II GSRVentures $246 2013 Venture Capital / Growth Equity
GSRVentures V GSRVentures $150 2015 Venture Capital / Growth Equity
New three board Innovation Investment Equity Investment Fund
GTJA Innovation Investment $16 2014 Venture Capital / Growth Equity
YueruiVenture Capital GuangDong MerchantVenture Capital $82 2014 Venture Capital / Growth Equity
Rongyi HengliVenture Capital Fund Guangdong Rongyi Innovation Investment $82 2013 Venture Capital / Growth Equity
Guangxi Beibu Gulf Industrial Investment Fund Guangxi Investment Group $3,270 2012 Venture Capital / Growth Equity
Guangzhou Guozi Industrial Development FundGuangzhou Yuexiu Industrial Investment Management Company
$475 2013 Fund of Funds / Co-Investment
Guizhou Industry Investment Fund Guizhou Investment Group $819 2014 Buyout / Corporate Private Equity
JapaneseVenture Fund GujaratVenture Finance Limited (GVFL) $1,000 2014 Venture Capital / Growth Equity
Value Multiplier Fund GujaratVenture Finance Limited (GVFL) $79 2014 Venture Capital / Growth Equity
Guosen Han's Laser Robot Industrial Fund Guosen Han's Laser Asset Management $164 2015 Venture Capital / Growth Equity
Haitong RMBBuyout Fund I Haitong Securities $491 2013 Buyout / Corporate Private Equity
Liaoning New Energy and Low Carbon Investment Fund - JointVenture
Haitong Securities $819 2013 Venture Capital / Growth Equity
PBCSF Innovation Investment Fund Harvest Capital (SCHC) $164 2014 Venture Capital / Growth Equity
Silicon Valley Kaile Yuanzun Restructuring Fund Heaven-Sent Capital Management Group $82 2015 Buyout / Corporate Private Equity
Comix Hejun Industry Fund Hejun Capital $82 2014 Buyout / Corporate Private Equity
Haihe Entertainment & Internet Equity Investment I Hejun Capital $82 2014 Buyout / Corporate Private Equity
HelionVenture Partners IV HelionVenture Partners $300 2015 Venture Capital / Growth Equity
Hera Capital Holdings II Hera Capital $20 2014 Venture Capital / Growth Equity
Heyuan SMEs Fund Heyuan Capital Asset Management $327 2015 Buyout / Corporate Private Equity
Hillhouse Capital Fund III Hillhouse Capital Management - 2015 Venture Capital / Growth Equity
Jiangsu Province Emerging Industrial Investment Fund - JointVenture
Hony Capital $1,640 2013 Venture Capital / Growth Equity
Hony Capital Fund VIII - coinvestment Hony Capital $600 2016 Fund of Funds / Co-Investment
Hopu Master Fund II Hopu Investment Management $2,000 2013 Buyout / Corporate Private Equity
New Hope Agriculture and Food Fund II Hosen Capital $400 2013 Venture Capital / Growth Equity
Auda Asia IV HQ Capital $300 2015 Fund of Funds / Co-Investment
Auda Asia Secondary Fund HQ Capital $200 2015 Secondaries
Hanxing EnlightVenture Investment Fund Huaxing Capital $164 2014 Venture Capital / Growth Equity
Huaxing Capital Partners II Huaxing Capital $150 2015 Venture Capital / Growth Equity
Charioteer Fund-I I4L Funds Management $39 2013 Venture Capital / Growth Equity
ICICI Prudential Alternative Debt Fund ICICI Prudential Asset Management Company $168 2014 Mezzanine / Debt
ASIA-PACIFIC-FOCUSED PRIVATE EQUITY FUNDS IN MARKET (AS OF 13 JUNE 2016)
412016 apac fund manager's guide private equity international
Fund Name Fund Manager Target Size ($mn) Launch Year Fund Strategy
India Advantage Fund Series 4 (IAF Series 4) ICICIVenture $500 2014 Buyout / Corporate Private Equity
Ideaspring Capital Fund Ideaspring Capital $47 2016 Venture Capital / Growth Equity
IDFC Private Equity Fund IV IDFC Alternatives Limited $400 2015 Venture Capital / Growth Equity
IDG CreditEase Financial Innovation Fund I IDGVentures $100 2013 Mezzanine / Debt
IDG 90s Fund IDGVentures $100 2014 Venture Capital / Growth Equity
IDG China Capital Fund III IDGVentures $1,000 2015 Venture Capital / Growth Equity
IDGVentures India Fund III IDGVentures $200 2016 Venture Capital / Growth Equity
IFMR FImpact Investment Fund IFMR Investment Managers $11 2014 Mezzanine / Debt
IIFL SeedVentures Fund I IIFL Holdings $157 2015 Venture Capital / Growth Equity
Tara India Fund IV IL&FS Investment Managers Ltd $100 2011 Venture Capital / Growth Equity
IMJ Investment Partners Japan Fund I IMJ Investment Partners $49 2016 Venture Capital / Growth Equity
India Quotient Fund II India Quotient $24 2015 Venture Capital / Growth Equity
IndiaVenture Advisors Trust Fund II IndiaVenture Advisors $157 2012 Venture Capital / Growth Equity
Indus Media Capital Indus Media Entertainment $50 2014 Venture Capital / Growth Equity
Huamei Technology VC FundIndustrial Technology Investment Corporation (ITIC)
$120 2015 Venture Capital / Growth Equity
Golden Asia Fund Taiwan IIIndustrial Technology Investment Corporation (ITIC)
$85 2016 Venture Capital / Growth Equity
Infinity e.venture Asia III InfinityVenture Partners $100 2014 Venture Capital / Growth Equity
Inflexion Point Japan Fund Inflexion Point Capital (IPC) $15 2014 Venture Capital / Growth Equity
Infuse Capital InfuseVentures $25 2012 Venture Capital / Growth Equity
Innovation Works Development Fund III Innovation Works $250 2015 Venture Capital / Growth Equity
PNB-Inspire Ethical Fund Inspire Corporation $49 2014 Venture Capital / Growth Equity
Intermediate Capital Asia Pacific Mezzanine Fund III 2014
Intermediate Capital Group - 2014 Mezzanine / Debt
Inventis China Growth Fund VI Inventis Investment Holdings (China) $3,000 2012 Venture Capital / Growth Equity
Inventus Capital Partners Fund III Inventus Capital Partners $150 2016 Venture Capital / Growth Equity
Ironwood Capital Partners Sri Lankan SME Fund Ironwood Capital Partners $30 2014 Venture Capital / Growth Equity
IvyCapVentures Trust Fund II IvyCapVentures Advisors Private Limited $200 2014 Venture Capital / Growth Equity
IxoraVenture IxoraVentures $10 2013 Venture Capital / Growth Equity
JANVEST II JANVEST Technologies $5 2013 Venture Capital / Growth Equity
JPE Private Equity No.4 Japan Private Equity (JPE) $41 2013 Buyout / Corporate Private Equity
Ambit Flowers Asset Reconstruction Fund JC Flowers & Co. $100 2016 Mezzanine / Debt
Jiuding AgriculturalBuyout Fund JD Capital (Kunwu Jiuding Capital) $33 2013 Buyout / Corporate Private Equity
Jiuding Strategic Fund JD Capital (Kunwu Jiuding Capital) $491 2013 Venture Capital / Growth Equity
Kunwu Jiuding Debt Fund JD Capital (Kunwu Jiuding Capital) $1,640 2013 Mezzanine / Debt
Dagze Jiarun JD Capital (Kunwu Jiuding Capital) - 2014 Buyout / Corporate Private Equity
Dagze Junhe JD Capital (Kunwu Jiuding Capital) - 2014 Buyout / Corporate Private Equity
Lhasa Kunwu JD Capital (Kunwu Jiuding Capital) - 2014 Buyout / Corporate Private Equity
Beijing Water Jiuding Environmental Industry Fund JD Capital (Kunwu Jiuding Capital) $327 2015 Buyout / Corporate Private Equity
Jiuding Mid-Market Growth Capital Fund JD Capital (Kunwu Jiuding Capital) $819 2015 Venture Capital / Growth Equity
Vikram Pandit - JM Financial Distressed Fund JM Financial $100 2013 Distressed / Turnaround
Joshua Tree Fund I Joshua Tree Asia Investments $350 2012 Venture Capital / Growth Equity
Pakistan Private Investment Initiative JS Private Equity JS Private Equity Management $100 2013 Venture Capital / Growth Equity
JungleVentures II JungleVentures $100 2015 Venture Capital / Growth Equity
SeedPlus Singapore JungleVentures $20 2015 Venture Capital / Growth Equity
Jupiter Sri Lanka Growth Fund Jupiter Capital Partners $75 2014 Venture Capital / Growth Equity
Kae Capital Fund II Kae Capital $40 2015 Venture Capital / Growth Equity
Kaiwu Walden Capital Kaiwu Capital $150 2012 Venture Capital / Growth Equity
Kaizen pan-Asian fund Kaizen Private Equity $120 2014 Venture Capital / Growth Equity
Kalaari Capital Partners Opportunity Fund Kalaari Capital $75 2015 Venture Capital / Growth Equity
Creation of Future Investment Fund KB incubator KB Investment - 2014 Venture Capital / Growth Equity
KK Fund I KK Fund - 2015 Venture Capital / Growth Equity
India Alternative Credit Opportunities Fund II Kohlberg Kravis Roberts (KKR) $236 2015 Mezzanine / Debt
KKR India Debt Opportunities Fund II Kohlberg Kravis Roberts (KKR) $236 2016 Mezzanine / Debt
KKR India Debt Opportunities Fund III Kohlberg Kravis Roberts (KKR) $79 2014 Mezzanine / Debt
Shanghai Founder KIP Partnership II Korea Investment Partners - 2016 Venture Capital / Growth Equity
Kotak Special Situation Credit Opportunity Fund Kotak Mahindra Group $606 2013 Mezzanine / Debt
Kotak India Private Equity Fund III Kotak Mahindra Group $300 2015 Venture Capital / Growth Equity
KSP Capital Investment Fund 4 KSP $41 2014 Venture Capital / Growth Equity
LC Fund VII Legend Capital - 2016 Venture Capital / Growth Equity
Leopard Myanmar Fund Leopard Capital $100 2013 Venture Capital / Growth Equity
Crown Asia-Pacific Private Equity III LGT Capital Partners - 2014 Fund of Funds / Co-Investment
Ling Shi Investment Fund Ling Shi Capital Management $164 2014 Buyout / Corporate Private Equity
Lok Capital III Lok Capital $100 2015 Venture Capital / Growth Equity
New Jin Merchants Private Equity Fund Longhua QiFu Investment $246 2012 Venture Capital / Growth Equity
LotusPool Capital Fund I LotusPool Capital $125 2011 Buyout / Corporate Private Equity
42 private equity international 2016 apac fund manager's guide
Fund Name Fund Manager Target Size ($mn) Launch Year Fund Strategy
Lunar Capital Partners IV Lunar Capital $380 2015 Buyout / Corporate Private Equity
Luzheng MOSO Industry Fund LuzhengVenture Capital Investment $49 2014 Buyout / Corporate Private Equity
MHC&C - VivantVentures Accelerator Fund M.H. Carnegie & Co. (MHC&C) $61 2013 Venture Capital / Growth Equity
Asia Development Fund Makara Capital $888 2013 Venture Capital / Growth Equity
Axiata Digital Innovation Fund (ADIF)MalaysiaVenture Capital Management (MAVCAP)
$31 2014 Venture Capital / Growth Equity
Mandala Capital Fund II Mandala Capital - 2015 Venture Capital / Growth Equity
Matrix Partners India II Extension Matrix Partners $110 2016 Venture Capital / Growth Equity
MBK Partners IV MBK Partners $4,000 2016 Buyout / Corporate Private Equity
Dragon Tiger Capital Partners Media Asia $200 2014 Buyout / Corporate Private Equity
825 Fund Two Meridian Capital China $327 2016 Venture Capital / Growth Equity
Cool Japan Fund Ministry of Economy, Trade and Industry $1,220 2013 Venture Capital / Growth Equity
Mizuho ASEAN PE Fund Mizuho Asia Partners $200 2012 Venture Capital / Growth Equity
Mizuho Capital Partners Mezzanine 3 Mizuho Capital Partners $244 2014 Mezzanine / Debt
Monk's HillVentures Insight Fund I Monk's HillVentures $8 2015 Venture Capital / Growth Equity
Morgan Creek Partners Asia II Morgan Creek Capital Management $300 2013 Fund of Funds / Co-Investment
Morningside China TMT Fund IV Co-Investment MorningsideVentures $60 2015 Fund of Funds / Co-Investment
Morningside China TMT Special Opportunity Fund II MorningsideVentures $200 2015 Venture Capital / Growth Equity
Movac Fund 4 Movac $87 2016 Venture Capital / Growth Equity
Growth Ladder Fund Multi Asset Global Investment $5,330 2013 Venture Capital / Growth Equity
Multiples Private Equity Fund IIMultiples Alternate Asset Management (Multiples Private Equity)
$600 2014 Buyout / Corporate Private Equity
Plenty Private Equity Fund IMultiples Alternate Asset Management (Multiples Private Equity)
$600 2014 Venture Capital / Growth Equity
N5Capital Fund I N5 Capital $200 2015 Venture Capital / Growth Equity
Emerald Sri Lanka Fund I NDB Zephyr Partners $50 2014 Venture Capital / Growth Equity
NDE Fund II NDE Capital $350 2013 Venture Capital / Growth Equity
Nepoch Capital Fund I Nepoch Capital $500 2013 Venture Capital / Growth Equity
Cathay Capital Holdings III New China Capital Management $500 2013 Venture Capital / Growth Equity
NewQuest Asia Fund III NewQuest Capital Partners $500 2015 Secondaries
Next Capital III Next Capital $230 2013 Buyout / Corporate Private Equity
Kojimachi Opportunities Fund Next Capital Partners $49 2013 Distressed / Turnaround
Hanzomon Opportunities Fund Next Capital Partners $49 2013 Distressed / Turnaround
Next OrbitVentures II Next OrbitVentures $750 2015 Venture Capital / Growth Equity
Nexus India Capital V NexusVenture Partners $400 2015 Venture Capital / Growth Equity
Nippon Sangyo Suishin Kiko Fund I Nippon Sangyo Suishin Kiko $81 2014 Buyout / Corporate Private Equity
MarathonVenture Partners Northern LightVenture Capital $125 2015 Venture Capital / Growth Equity
Northern LightVenture Fund IV Northern LightVenture Capital $400 2015 Venture Capital / Growth Equity
Asia Environmental Partners II Olympus Capital Holdings Asia $300 2014 Venture Capital / Growth Equity
Olympus Capital Asia V Olympus Capital Holdings Asia $750 2015 Venture Capital / Growth Equity
Omnivore Capital 2 India Omnivore Capital $70 2016 Venture Capital / Growth Equity
OneVentures Innovation Fund II OneVentures $100 2014 Venture Capital / Growth Equity
Oorja Capital Partners Oorja Capital $60 2015 Venture Capital / Growth Equity
Orion Bluebell Fund Orion Partners $300 2015 Venture Capital / Growth Equity
OriosVenture Partners Fund II OriosVenture Partners $150 2015 Venture Capital / Growth Equity
OUVC Fund I Osaka UniversityVenture Capital - 2015 Venture Capital / Growth Equity
OCBC Capital Equity Investment FundOverseas Chinese Banking Corporation (OCBC) Group
$100 2014 Venture Capital / Growth Equity
Pacific Harbor Fund Pacific Harbor Holdings $1,000 2013 Mezzanine / Debt
Pan Pacific Capital Fund Pan Pacific Capital $70 2013 Venture Capital / Growth Equity
Paragon Partners I Paragon Partners $200 2015 Venture Capital / Growth Equity
Parampara Fund I Parampara Capital - 2015 Venture Capital / Growth Equity
PVC II PeeshVenture Capital - 2014 Venture Capital / Growth Equity
Private Equity New Markets IV PENM Partners $180 2015 Venture Capital / Growth Equity
Kunming Ping An healthcare M&A fund Ping An Insurance (Group) Co. of China $82 2014 Buyout / Corporate Private Equity
Pioneer Capital Partners II Pioneer Capital Partners $131 2013 Venture Capital / Growth Equity
Piramal India Resurgent Funds Piramal Enterprises $944 2016 Mezzanine / Debt
Portfolio Advisors Asia Fund V Portfolio Advisors - 2015 Fund of Funds / Co-Investment
Special Opportunities Fund Asia Precision Capital $50 2012 Fund of Funds / Co-Investment
Primavera Capital Fund II Primavera Capital Group $1,500 2014 Venture Capital / Growth Equity
AngelPrime Partners Fund PrimeVenture Partners $14 2015 Venture Capital / Growth Equity
Principle USD Fund Principle Capital $200 2014 Buyout / Corporate Private Equity
Principle Capital Fund IV Principle Capital $350 2016 Venture Capital / Growth Equity
Providence RMB Equity Investment Fund Providence Equity Partners - 2012 Venture Capital / Growth Equity
PTC India Energy Fund PTC India $50 2014 Venture Capital / Growth Equity
Purple Horse Ruiying PE FOF III Purple Horse Fund $8 2012 Fund of Funds / Co-Investment
Qiming RMB Fund III QimingVenture Partners $164 2014 Venture Capital / Growth Equity
ASIA-PACIFIC-FOCUSED PRIVATE EQUITY FUNDS IN MARKET (AS OF 13 JUNE 2016)
432016 apac fund manager's guide private equity international
Fund Name Fund Manager Target Size ($mn) Launch Year Fund Strategy
India Build-Out Fund II Quadria Capital $118 2010 Venture Capital / Growth Equity
China StrategicVenture Fund QualcommVentures $150 2014 Venture Capital / Growth Equity
Indian Strategic Fund QualcommVentures $150 2015 Venture Capital / Growth Equity
India Agri Business Fund II Rabo Equity Advisors $200 2012 Venture Capital / Growth Equity
RVCF III Rajasthan Asset Management Company $79 2014 Venture Capital / Growth Equity
RakutenVentures Japan Fund RakutenVentures $81 2016 Venture Capital / Growth Equity
Rebright Partners II Rebright Partners $20 2015 Venture Capital / Growth Equity
Reinventure Fund II Reinventure Group $77 2016 Venture Capital / Growth Equity
Shenshang Richland XingyeVenture Capital Fund Richland Equities $82 2013 Venture Capital / Growth Equity
Asia Climate Partners Robeco $750 2014 Venture Capital / Growth Equity
RWB Special Market Asia II RWB Private Capital Fonds - 2013 Fund of Funds / Co-Investment
Ryerson & Chokhani India Technology Fund - JointVenture
Ryerson Futures Inc. $15 2014 Venture Capital / Growth Equity
Saama Capital III Saama Capital $50 2015 Venture Capital / Growth Equity
Sabre Partners Fund IV Sabre Partners India $100 2014 Venture Capital / Growth Equity
Sagamore China Partners III Sagamore Investments $150 2012 Fund of Funds / Co-Investment
Sagamore China Partners IV Sagamore Investments - 2016 Fund of Funds / Co-Investment
Samara Capital Partners Fund II Samara Capital $300 2013 Venture Capital / Growth Equity
Sankhya Women Impact Fund Sankhya Partners $10 2014 Venture Capital / Growth Equity
SapienVentures Fund SapienVentures $38 2015 Venture Capital / Growth Equity
SBCVC Fund V SB ChinaVenture Capital $400 2014 Venture Capital / Growth Equity
SBI Finansa Private Equity I SBI Finansa Private Equity Partners $50 2015 Venture Capital / Growth Equity
SBI-FMO Emerging Asian Financial Sector Fund SBI Holdings $125 2012 Venture Capital / Growth Equity
Science India Fund Science Inc $30 2015 Venture Capital / Growth Equity
SEAF India Agribusiness International Fund II SEAF $150 2015 Venture Capital / Growth Equity
Sealink Capital I Sealink Capital $250 2014 Venture Capital / Growth Equity
SEAVI Advent Equity VI Fund SEAVI Advent $200 2013 Buyout / Corporate Private Equity
Sequoia Capital China Growth Fund IV Sequoia Capital $900 2016 Venture Capital / Growth Equity
Sequoia Capital ChinaVenture Fund VI Sequoia Capital $550 2016 Venture Capital / Growth Equity
Sailing New Culture Private Equity Fund IShanghai International Group (SIG, Sailing Capital)
$164 2013 Venture Capital / Growth Equity
Shanghai Healthcare Industry Investment Fund Shanghai Real Power Capital $491 2015 Buyout / Corporate Private Equity
Yuankang Shanda Fund Shanghai Shanda Capital $33 2013 Fund of Funds / Co-Investment
Beijing Red Earth JiaheVenture Capital Fund Shenzhen Capital Group $82 2014 Venture Capital / Growth Equity
Hongtu Mobile Internet Fund Shenzhen Capital Group $57 2014 Venture Capital / Growth Equity
Shenzhen Huaxin RuichengVenture Investment Shenzhen Huaxin Zhongcheng Investment $33 2013 Venture Capital / Growth Equity
Oriental Fortune Loongs Media Fund Shenzhen Oriental Fortune Capital $327 2014 Venture Capital / Growth Equity
Shunwei China Internet Opportunity Fund II Shunwei Capital Partners $500 2015 Venture Capital / Growth Equity
Samridhi Fund SIDBIVenture Capital $551 2013 Venture Capital / Growth Equity
SiemensVenture Capital Renminbi Fund SiemensVenture Capital - 2013 Venture Capital / Growth Equity
Cloud Startup Fund Sify Technologies $24 2013 Venture Capital / Growth Equity
SkateboatVenture Capital Fund SkateboatVenture Capital $100 2016 Venture Capital / Growth Equity
India Aspiration Fund (IAF)Small Industries Development Bank of India (SIDBI)
$31 2015 Fund of Funds / Co-Investment
SoftBank PrinceVille Investments Annex Fund Softbank Capital Partners $150 2014 Venture Capital / Growth Equity
Somerset Indus Healthcare Fund II Somerset Indus Capital Partners - 2015 Venture Capital / Growth Equity
Shenzhen Qianhai Southern RaytaiBuyout Fund Southern Raytai Fund Management $82 2013 Buyout / Corporate Private Equity
MLS Capital Fund II Spruce Capital Partners $250 2015 Venture Capital / Growth Equity
Stakeboat Capital Fund I Stakeboat Capital $100 2016 Venture Capital / Growth Equity
Startup Village Angel Fund-1 Startup Village $10 2013 Venture Capital / Growth Equity
Aaruha Technology Fund StartupXseedVentures $16 2015 Venture Capital / Growth Equity
Oman India Joint Investment Fund II State General Reserve Fund of Oman $350 2014 Venture Capital / Growth Equity
SteamboatVentures VI SteamboatVentures $100 2016 Venture Capital / Growth Equity
Stepstone Az China And Asia Opportunities Fund StepStone Group - 2015 Fund of Funds / Co-Investment
STIC Private Equity Fund III STIC Investments $300 2013 Venture Capital / Growth Equity
STIC Shariah Private Equity Fund III STIC Investments $100 2013 Venture Capital / Growth Equity
STIC Special Situation Fund STIC Investments $578 2016 Buyout / Corporate Private Equity
Shangahai Summitview Integrated Circuit Information IndustryVenture Capital Fund I
Summitview Capital $1,640 2014 Venture Capital / Growth Equity
SunBridge Partners JJV Fund SunBridge Partners $10 2013 Venture Capital / Growth Equity
Sydney Seed Fund Sydney Seed Fund $2 2013 Venture Capital / Growth Equity
Taiwan M&A Fund Taiwan's National Development Council $680 2015 Buyout / Corporate Private Equity
Tata Capital Healthcare Fund II Tata Capital - 2016 Venture Capital / Growth Equity
TDF Capital China III TDF Capital $200 2014 Venture Capital / Growth Equity
Media Entertainment Fund Tembusu Partners $100 2014 Venture Capital / Growth Equity
TFBuyout Fund TF Securities $82 2014 Buyout / Corporate Private Equity
Pakistan Private Investment Initiative Abraaj The Abraaj Group $100 2013 Venture Capital / Growth Equity
44 private equity international 2016 apac fund manager's guide
Fund Name Fund Manager Target Size ($mn) Launch Year Fund Strategy
CJP III Coinvestment The Carlyle Group - 2013 Fund of Funds / Co-Investment
Carlyle Asia Structured Credit Opportunities Fund The Carlyle Group $1,000 2014 Mezzanine / Debt
CASCOF Coinvestment The Carlyle Group - 2015 Mezzanine / Debt
Carlyle Asia Growth Partners V The Carlyle Group $1,000 2016 Venture Capital / Growth Equity
India Internet Group II The India Internet Group $15 2015 Venture Capital / Growth Equity
Third Eye Cinema Fund Third Eye Cinema Fund $31 2014 Venture Capital / Growth Equity
Tiantu China Consumer Fund I Tiantu Capital $100 2014 Venture Capital / Growth Equity
Tibet DongWei XingHua Investment Centre Tibet DongWei $1,640 2016 Buyout / Corporate Private Equity
TimesboleBuyout Fund TimesboleVenture Capital Management $29 2014 Buyout / Corporate Private Equity
TMCAP2015 Tokio Marine Capital Co., Ltd. $487 2015 Buyout / Corporate Private Equity
Tokio Marine Mezzanine Fund Tokio Marine Mezzanine Corporation $244 2013 Mezzanine / Debt
TBSVenture Capital Fund Tokyo Broadcasting System VC Unit $15 2013 Venture Capital / Growth Equity
TR Capital III TR Capital $250 2015 Fund of Funds / Co-Investment
TA Asian Consumers Capital Partners TransAsia Private Capital - 2013 Distressed / Turnaround
Trifecta Capital PartnersVenture Debt Fund Trifecta Capital Partners $63 2014 Mezzanine / Debt
Triple P Capital Fund I Triple P Capital $120 2014 Venture Capital / Growth Equity
Triton Investment Fund Triton Investment Advisors $8 2015 Venture Capital / Growth Equity
Trustbridge Partners V Trustbridge Partners $1,000 2014 Venture Capital / Growth Equity
Qinghai TH Capital TechnologyVenture Capital Fund Tsinghua Holdings $82 2013 Venture Capital / Growth Equity
Redbud Capital Fund II Tsinghua Holdings $409 2013 Fund of Funds / Co-Investment
Redbud Capital Fund III - Redbud Huatong Tsinghua Holdings $491 2015 Fund of Funds / Co-Investment
UnicapVenture Fund – I Unicap Advisory $31 2013 Venture Capital / Growth Equity
Unicorn IndiaVentures Fund I Unicorn IndiaVentures $24 2015 Venture Capital / Growth Equity
UG ChinaVenture II United Gain Investment $100 2014 Venture Capital / Growth Equity
United Orient Capital Fund United Overseas Bank (UOB) $200 2014 Mezzanine / Debt
InnoVen Capital - JointVenture United Overseas Bank (UOB) $500 2015 Mezzanine / Debt
Unitus Livelihoods Impact Fund Unitus Impact $50 2013 Venture Capital / Growth Equity
ÜNLÜ & Co III ÜNLÜ & Co $250 2014 Buyout / Corporate Private Equity
ASEAN China Investment Fund III UOBVenture Management $200 2015 Venture Capital / Growth Equity
Sino-Singapore Chongqing Connectivity Private Equity Fund
UOBVenture Management $16,370 2016 Venture Capital / Growth Equity
USRG-Shanghai Renewable Energy Fund I US Renewables Group - 2014 Venture Capital / Growth Equity
DICCI SME Fund Varhad Group $79 2013 Venture Capital / Growth Equity
Varhad Female Entrepreneurs Fund Varhad Group $100 2013 Venture Capital / Growth Equity
Ventureast India Fund VenturEast $200 2015 Venture Capital / Growth Equity
Vietnam Fundamental Growth Fund Vietcombank Fund Management $150 2013 Venture Capital / Growth Equity
VI (Vietnam Investments) Fund III Vietnam Investments Group (VI Group) $275 2015 Venture Capital / Growth Equity
Asean Alliance Fund VinaCapital $300 2013 Venture Capital / Growth Equity
Lotus Impact VinaCapital $50 2013 Venture Capital / Growth Equity
China WaldenVenture Investments II Walden International $150 2014 Venture Capital / Growth Equity
Walden IndiaVentures I Walden International - 2015 Venture Capital / Growth Equity
Warburg Pincus Private Equity China Fund Warburg Pincus $2,000 2016 Buyout / Corporate Private Equity
Tulga Fund Watermill Advisors $100 2014 Venture Capital / Growth Equity
WM Partners Fund I (JSPF No. 3) WM Partners $81 2013 Secondaries
Wuxi Xincheng Guolian HejingBuyout Fund Wuxi Guolian Development Group $33 2014 Buyout / Corporate Private Equity
Wynsun Capital Technology Fund II Wynsun Capital Management - 2015 Venture Capital / Growth Equity
ZhongXi Film Industry Fund Ximeng Asset Holdings $246 2013 Venture Capital / Growth Equity
Dinglong XizhengBuyout Fund I Xizheng Equity Investment $49 2014 Buyout / Corporate Private Equity
YJ Capital Fund II YJ Capital - 2015 Venture Capital / Growth Equity
YouWeCanVentures Fund YouWeCanVentures $10 2015 Venture Capital / Growth Equity
O2O Innovative Consumer FundZhejiang ZheshangVenture Investment Management Co., Ltd
$43 2014 Venture Capital / Growth Equity
Zhen Partners Fund IV ZhenFund $150 2015 Venture Capital / Growth Equity
ZJ Capital US Co-investment fund Zhijing Capital $50 2014 Fund of Funds / Co-Investment
Zhongnan Cultural MediaBuyout Fund Zhongnan Cultural Media Fund Management $491 2014 Buyout / Corporate Private Equity
Zodius Technology Fund II Zodius Capital $75 2014 Venture Capital / Growth Equity
Zodius Capital II Zodius Capital $500 2015 Buyout / Corporate Private Equity
Zodius Technology Opportunities Fund Zodius Capital $40 2016 Venture Capital / Growth Equity
Zoyi Capital I Zoyi Capital $300 2013 Buyout / Corporate Private Equity
Shaanxi Province 3D PrintingVenture Capital Fund ZS Capital $41 2014 Venture Capital / Growth Equity
ASIA-PACIFIC-FOCUSED PRIVATE EQUITY FUNDS IN MARKET (AS OF 13 JUNE 2016)
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46 private equity international 2016 apac fund manager's guide
2015-16 FINAL CLOSED ASIA-PACIFIC-FOCUSED PRIVATE EQUITY FUNDS (AS OF 13 JUNE 2016)
Fund Name Fund Manager Fund Size ($mn) Year Close Fund Strategy
500 Durians 500 Startups $22 2015 Venture Capital / Growth Equity
Abax Asian Structured Credit Fund II Abax Global Capital $66 2016 Mezzanine / Debt
ABBALab IoE Fund I ABBALab $12 2016 Venture Capital / Growth Equity
Accel India IV Accel Partners $305 2015 Venture Capital / Growth Equity
Accion Frontier Inclusion Fund ACCION $90 2015 Venture Capital / Growth Equity
Adexum Capital Fund II Adexum Capital $57 2015 Venture Capital / Growth Equity
ADV Opportunities Fund I ADV Partners $550 2015 Distressed / Turnaround
A-Fund II DCM-Doll Capital Management $100 2015 Venture Capital / Growth Equity
Allegro Turnaround and Special Situation Fund II Allegro Funds $138 2015 Mezzanine / Debt
Altos Korea Opportunity Fund II Altos Ventures $110 2016 Venture Capital / Growth Equity
Ameba Capital II Ameba Capital $164 2015 Venture Capital / Growth Equity
Anchor Equity Partners Fund II Anchor Equity Partners $850 2015 Venture Capital / Growth Equity
Ant Bridge 4 Private Equity Secondary Investment Fund Ant Capital Partners $219 2016 Secondaries
Ascendent Capital Partners II Ascendent Capital Partners (Asia) Limited $600 2015 Venture Capital / Growth Equity
Asia Alternatives Capital Partners IV Asia Alternatives Management LLC $1,800 2015 Fund of Funds / Co-Investment
Bain Capital Asia Fund III Bain Capital $3,000 2015 Buyout / Corporate Private Equity
Banyan Partners Co-Invest 2015 Banyan Capital $100 2015 Venture Capital / Growth Equity
Banyan Partners Fund II Banyan Capital $362 2015 Venture Capital / Growth Equity
Banyan Partners RMB Fund II Banyan Capital $92 2015 Venture Capital / Growth Equity
Baring Asia Private Equity Fund VI Baring Private Equity Asia $3,980 2015 Venture Capital / Growth Equity
Blackbird Venture Capital Fund II Blackbird Ventures $153 2015 Venture Capital / Growth Equity
BlueRun China Ventures III BlueRun Ventures $200 2015 Venture Capital / Growth Equity
Carlyle Japan Partners III The Carlyle Group $970 2015 Buyout / Corporate Private Equity
CASH Fund IICASH Capital (Beijing) Investment Management
$196 2015 Venture Capital / Growth Equity
CDIB Capital Asia Partners CDIB Capital International Corporation $405 2015 Venture Capital / Growth Equity
China Everbright ReinFore Special Opportunities Fund China Everbright Investment Management $355 2016 Venture Capital / Growth Equity
CLSA Aviation Private Equity Fund I CLSA Capital Partners $58 2016 Buyout / Corporate Private Equity
Continuity Capital Private Equity Fund No.2 Continuity Capital Partners $40 2016 Fund of Funds / Co-Investment
Core Infrastructure Indian Fund Kotak Mahindra Group $90 2015 Venture Capital / Growth Equity
Corstone Growth Strategy M&A Private Equity Fund Corstone Capital $133 2016 Venture Capital / Growth Equity
CPE China Fund II CITIC Private Equity Funds Management $1,290 2015 Venture Capital / Growth Equity
EMR Capital Resources Fund 1 EMR Capital $450 2015 Venture Capital / Growth Equity
Envision Venture Evergreen Fund Envision Capital $100 2015 Venture Capital / Growth Equity
Equis Asia Fund II Equis Funds Group $1,010 2015 Venture Capital / Growth Equity
Equis Direct Investment Fund Equis Funds Group $299 2015 Venture Capital / Growth Equity
Everbright Medical Healthcare Fund I China Everbright Investment Management $98 2015 Buyout / Corporate Private Equity
Everstone Capital Partners III Everstone Capital $731 2015 Venture Capital / Growth Equity
Fulcrum Venture India Fund II Fulcrum Venture India $16 2015 Venture Capital / Growth Equity
Gaja Capital Fund II Gaja Capital Partners $240 2015 Buyout / Corporate Private Equity
Gateway Mezzanine Partners II Babson Capital Management $178 2015 Mezzanine / Debt
Glade Brook Private Investors II Glade Brook Capital Partners $127 2015 Venture Capital / Growth Equity
Gobi MAVCAP ASEAN SuperSeed Fund Gobi Partners $15 2016 Venture Capital / Growth Equity
Gobi Yingzhi Fund II Gobi Partners $98 2015 Venture Capital / Growth Equity
Golden Gate Ventures Fund II Golden Gate Ventures $50 2015 Venture Capital / Growth Equity
Gumi Ventures II Gumi Ventures $16 2015 Venture Capital / Growth Equity
Hahn & Co II Hahn & Co. $1,230 2015 Buyout / Corporate Private Equity
Hahn & Co II Co-investment Hahn & Co. $700 2015 Fund of Funds / Co-Investment
Harvest Military Industrial Fund I Harvest Capital $49 2015 Venture Capital / Growth Equity
Harvest Military Industrial Fund II Harvest Capital $82 2015 Venture Capital / Growth Equity
Hillhouse Capital Fund I Hillhouse Capital Management $2,000 2015 Venture Capital / Growth Equity
Hony Capital Fund VIII Hony Capital $2,700 2016 Buyout / Corporate Private Equity
Hony Mezzanine Fund II Hony Capital $336 2015 Mezzanine / Debt
IDG-SMBA VC Fund IDG Ventures $89 2015 Venture Capital / Growth Equity
IFC Jungle Ventures II - Co-Investment International Finance Corporation (IFC) $10 2015 Venture Capital / Growth Equity
Incubate Fund No.3 Incubate Fund $89 2015 Venture Capital / Growth Equity
India 2020 Fund II Lighthouse Funds, LLC $138 2015 Venture Capital / Growth Equity
India Value Fund V India Value Fund Advisors $700 2015 Buyout / Corporate Private Equity
IndusAge Technology Venture Fund I IndusAge Partners $24 2015 Venture Capital / Growth Equity
Kalaari Capital III Kalaari Capital $290 2015 Venture Capital / Growth Equity
Keihanna ATR fund Nippon Venture Capital $41 2015 Venture Capital / Growth Equity
Kotak/CPPIB Indian Distressed Debt - Separate Account Kotak Mahindra Group $525 2016 Mezzanine / Debt
Lakeshore Capital Fund I Lakeshore Capital Partners Company Limited $60 2015 Venture Capital / Growth Equity
472016 apac fund manager's guide private equity international
2015-16 FINAL CLOSED ASIA-PACIFIC-FOCUSED PRIVATE EQUITY FUNDS (AS OF 13 JUNE 2016)
Fund Name Fund Manager Fund Size ($mn) Year Close Fund Strategy
LC Healthcare Fund I Legend Capital $250 2016 Venture Capital / Growth Equity
Lenovo Venture Fund II Lenovo Group $500 2016 Venture Capital / Growth Equity
Lightspeed India Partners I Lightspeed Venture Partners $135 2015 Venture Capital / Growth Equity
Lightstone Singapore Lightstone Ventures $50 2016 Venture Capital / Growth Equity
Lion-OCBC Capital Asia Fund IOverseas Chinese Banking Corporation (OCBC) Group
$406 2015 Mezzanine / Debt
LYFE Capital I RMB LYFE Capital $91 2015 Venture Capital / Growth Equity
LYFE Capital I USD LYFE Capital $210 2015 Venture Capital / Growth Equity
Matrix Partners China IV Matrix Partners $500 2016 Venture Capital / Growth Equity
Medical Research Commercialisation Fund 3 (MRCF 3) Brandon Capital Partners $153 2015 Venture Capital / Growth Equity
Mekong Enterprise Fund III Mekong Capital $112 2016 Venture Capital / Growth Equity
Michael and Susan Dell Foundation Education Fund Villgro $3 2015 Venture Capital / Growth Equity
Monk’s Hill Ventures Fund Monk's Hill Ventures $80 2016 Venture Capital / Growth Equity
Morningside China TMT Fund IV Morningside Ventures $660 2015 Venture Capital / Growth Equity
Navis Asia Fund VII Navis Capital Partners $1,500 2015 Buyout / Corporate Private Equity
NCB Kyushu Activation Fund Dogan Advisors $41 2015 Mezzanine / Debt
New York Balanced Pool Asia Investors II Asia Alternatives Management LLC $200 2015 Fund of Funds / Co-Investment
New York Co-Investment Pool Asia Investors II Asia Alternatives Management LLC $150 2015 Fund of Funds / Co-Investment
Nexus India Capital IV Nexus Venture Partners $450 2015 Venture Capital / Growth Equity
Nexus Top-up Opportunity Fund Nexus Venture Partners $130 2015 Venture Capital / Growth Equity
NICG Mezzanine Investment Business Limited Partnership I - Joint Venture
Nomura Holdings $378 2015 Mezzanine / Debt
Northstar Equity Partners IV Northstar Group $810 2015 Buyout / Corporate Private Equity
Pacific Equity Partners V Pacific Equity Partners $1,610 2015 Buyout / Corporate Private Equity
PAG Asia Capital II PAG $3,600 2015 Buyout / Corporate Private Equity
PAG Asia Special Situations Fund II PAG $1,400 2015 Mezzanine / Debt
Prime Venture Partners Prime Venture Partners $47 2015 Venture Capital / Growth Equity
Qiming Venture Partners III Annex Fund Qiming Venture Partners $75 2015 Venture Capital / Growth Equity
Qiming Venture Partners V Qiming Venture Partners $648 2016 Venture Capital / Growth Equity
Quadria Capital Fund Quadria Capital $304 2015 Venture Capital / Growth Equity
Religare Credit Opportunities Fund Religare Enterprises Limited $81 2015 Mezzanine / Debt
RRJ Capital III RRJ Capital $4,500 2015 Buyout / Corporate Private Equity
SAIF Partners India V SAIF Partners $350 2015 Venture Capital / Growth Equity
SBCVC Fund V Softbank China Venture Capital $458 2016 Venture Capital / Growth Equity
Sequoia Capital China Growth Fund III Sequoia Capital $625 2015 Venture Capital / Growth Equity
Sequoia Capital India IV Sequoia Capital $740 2015 Venture Capital / Growth Equity
Sequoia Capital India V Sequoia Capital $920 2016 Venture Capital / Growth Equity
Shanghai Founder KIP Partnership Korea Investment Partners $101 2015 Venture Capital / Growth Equity
Shoreline China Value III Shoreline Capital $500 2015 Mezzanine / Debt
Shoreline III Co-Investment Shoreline Capital $195 2015 Mezzanine / Debt
Shunwei China Internet Fund III Shunwei Capital Partners $1,000 2015 Venture Capital / Growth Equity
Shunwei RMB Fund Shunwei Capital Partners $164 2015 Venture Capital / Growth Equity
Skyland Ventures Fund II Skyland Ventures $10 2016 Venture Capital / Growth Equity
Source Code Fund II Source Code Capital $158 2015 Venture Capital / Growth Equity
SSG Secured Lending Opportunities I SSG Capital Management $325 2015 Mezzanine / Debt
Tank Stream Ventures fund Tank Stream Ventures $15 2015 Venture Capital / Growth Equity
Tasly Holding Healthcare Fund TaiKang Asset Management $819 2015 Buyout / Corporate Private Equity
Tianjin Xing Kuang Enterprise Management Consulting Partnership
Legend Capital $25 2015 Buyout / Corporate Private Equity
Topaz Private Debt I Topaz Capital $81 2016 Mezzanine / Debt
Trans-Continental Capital Partners I Trans-Continental Capital Advisors #N/A 2015 Venture Capital / Growth Equity
Trustbridge Partners V Trustbridge Partners $865 2015 Venture Capital / Growth Equity
Unicorn Partners Fund I Unicorn Capital Partners Limited $210 2016 Fund of Funds / Co-Investment
Unison Capital Partners IV Unison Capital $609 2015 Buyout / Corporate Private Equity
Unison Capital Private Equity Fund (Korea) Unison Capital $273 2015 Buyout / Corporate Private Equity
Unitus Seed Fund India Unitus Labs $6 2015 Venture Capital / Growth Equity
Venturra Capital Venture Fund Venturra Capital $150 2015 Venture Capital / Growth Equity
WuXi Healthcare Ventures II WuXi AppTec $290 2015 Venture Capital / Growth Equity
Wynsun Capital Technology Fund Wynsun Capital Management $21 2015 Venture Capital / Growth Equity
48 private equity international 2016 apac fund manager's guide
$65.0
$246.0
GLOBAL AND ASIA FUNDRAISING
DATA ROOM
ASIA FUNDRAISING BY COUNTRY ($BN)
DIFFERENCE BETWEEN TOTAL CAPITAL TARGETED AND RAISED BY ASIA-PACIFIC FUNDS
$600
$500
$400
$300
$200
$100
$0
$50
$45
$40
$35
$30
$25
$20
$15
$10
$5
$0
$8.0
$6.0
$4.0
$2.0
$0.0
$-2.0
$-4.0
$-6.0
$-8.0
$-10.0
2010
2010
n Asia-Pacific-focused
n Asia-Pacific-focused
n Others (include global/multi-regional funds)
n China n India n South Korea
$bn
Source: PEI Research and Analytics
Source: PEI Research and Analytics
Source: PEI Research and Analytics
$bn
$bn
2012
2012
2015
2015
2011
2011
2014
2014
2013
2013
2016 (as of
13 June)
2016 (as of
13 June)
$42.8 $40.2 $48.9$45.6$32.6 $8.1
$181.6
$2
0.6
$2
2.3
$5
.2
$1
0.6
$1
2
$5
.2
$4
5.1
$3
.8
$2
.5
$2
.2
$1
.5 $4
.6
$1
.4$4
5.1
$2
.8
$1
$1
.1
$0
.5 $3
.1
$0
.2$2
.4
$1
5.5
$1
4.3
$2
4.1
$3
3
$2
9.3
$1
.2
$1
2.9
$307.3
$428.3$387.6
$417.6
$202.0
2010
-$7.4-$8.3
-$1.0
-$2.7
$1.4
$6.0
$1.1
2012 2014 2015 2016 (as of
13 June)
2011 2013
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