Darby Overseas Investments acquired Prumerica Asia Infrastructure Investors from an affiliate of Prudential Financial, said Nicholas F. Brady, Darby chairman. Terms were not disclosed. PAII, which will be renamed Darby Asia Investors, is the Hong Kong-based manager of the $246 million Asian Infrastructure Mezzanine Capital Fund, which provides mezzanine capital for infrastructure projects and companies in emerging market countries in Asia.
Major investors in the fund include pension funds from Asia and the United States as well as Prudential Insurance Co. of America and a number of Japanese insurance companies, led by Nippon Life. The Asian Development Bank is a core investor in the fund.