Actis raises US$2.9bn

In one of the largest emerging markets focused fund closures, private equity investor, Actis has smashed its target of US$2.5bn with a close of US$2.9bn for its Actis Emerging Markets 3 fund.

The latest fund is double the amount raised by Actis in 2004. AEM3 commitments came from a diversified group of 100 investors from around the world, including a number of first time investors in emerging markets.

AEM3 will be used to build a portfolio of between 30 and 40 investments across Africa, China, India, Latin America and South East Asia, typically investing US$50m of equity capital in buyout and growth transactions.

Senior partner at Actis said: “We believe that underlying economic growth remains resilient in many of the emerging markets. Much of this growth can be linked to businesses benefiting from consumer demand and increased investment in domestic infrastructure and Actis’s investment strategy is tailored accordingly. We remain confident about the long term prospects of the emerging markets and that exceptional opportunities will present themselves during the life of this fund.”In one of the largest emerging markets focused fund closures, private equity investor, Actis has smashed its target of US$2.5bn with a close of US$2.9bn for its Actis Emerging Markets 3 fund.