Firm: Asia Alternatives
Fund: Asia Alternatives Capital Partners IV LP
Amount Raised: $148 million
Asia Alternatives Capital Partners IV marks the latest in a series of funds dating back to the 2007 final close its first fund. Executives on Fund IV’s Form D filing are: Melissa Ma, Rebecca Xu, William LaFayette and Akihiko Yasuda. The date of first sale is listed as Sept. 12.
Ma is listed on the Asia Alternatives website as co-founder and managing partner of the firm; Xu is is co-founder and managing director. Yasuda carries the title of managing director and head of the Hong Kong office for the firm, while LaFayette works as managing director, chief financial officer and head of the firm’s San Francisco office.
The same executives were listed in a Form D filing for Asia Alternatives Private Equity Partners III, which closed in 2012 with $908 million in commitments, plus an additional $600 million in separate accounts for large investors.
All told, Asia Alternatives manages more than $4 billion in assets, according to its website. It invests with “top performing private equity fund managers” in mainland China, Taiwan, and Hong Kong, as well as Japan, Korea, Southeast Asia, India and Australia. It targets buyout, growth and expansion, venture capital and special situations funds.
In an interview with PEI Alternative Insight in 2012, Ma said GPs that have drawn investments from the firm included Capital Today, Hony Capital, CDH Investments, Unison Capital, Advantage Partners, ChrysCapital and Saratoga Capital. LPs have included Cathay Life Insurance and the New Mexico State Investment Council, which joined Fund III. Older LPs include the New York State Common Retirement Fund, Oak Hill Investment Management and the Pennsylvania State Employees’ Retirement System.
The vintage 2008 Asia Alternatives Capital Partners II rang up an IRR of 13.4 percent as of Dec. 31 for the California Public Employees’ Retirement System, according to pension fund data compiled by Buyouts.
Asia Alternatives did not respond to a request for comment.