RRJ Capital’s third private equity fund, RRJ Capital Master Fund III, has closed at $4.5 billion, said Richard Ong, chairman and CEO of the Hong Kong-based firm, in an e-mail Friday.
That makes the fund, focused on opportunistic investments in China and Southeast Asia, one of the largest ever raised for the Asia-Pacific region. Baring Asia Private Equity Fund VI closed at roughly $4 billion in February, and KKR’s Asia Fund II closed at a record $6 billion in mid-2013.
Investors in RRJ Capital’s latest fund include the $79 billion New Jersey Pension Fund, Trenton; $14.6 billion New Mexico Public Employees Retirement Association, Santa Fe; $45.8 billion Illinois Teachers’ Retirement System; $25.2 billion Texas County & District Retirement System, Austin, and $27.6 billion Pennsylvania State Employees’ Retirement System, Harrisburg.
