Asia Alternatives Management has $1.8 billion in new commitments in private equity fund of funds Asia Alternatives Capital Partners IV, and its related private equity fund-of-funds vehicles, said Melissa Ma, co-founder and managing director.
Asia Alternatives Capital Partners IV, along with its sleeve fund focused on investments outside Japan, AACP IV Ex-Japan Investors, closed on a combined $1 billion of committed capital, above their combined target of $750 million. The remainder of the capital raised is in separate accounts. Fund IV and the related fund vehicles’ total capital is 20% more than the firm raised in August 2012 when it closed on $1.5 billion in its third fund, related funds and separate accounts.
“We are agnostic whether we invest in our commingled or separate account fund-of-funds pools as all vehicles access the same investments and we have one standardized set of terms,” Ms. Ma said.
Investors include the $181.7 billion New York State Common Retirement Fund, Albany; $20 billion San Francisco City & County Employees’ Retirement System; and the University of Vermont, Burlington, which oversees the university’s $351 million in endowment assets.