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Fund News In Brief

Dymon Asia Capital is branching out to the private equity world, launching a fund with backing from a unit of Singapore state investor Temasek Holdings, according to a company e-mail obtained by Reuters, indicating an uncommon move by a hedge fund. The firm aims to raise S$300 million ($246 million) for Dymon Asia Private Equity, Keith Tan, Dymon’s managing partner told clients in an email this month, Reuters wrote.

TPG Credit Management, an alternatives and distressed asset investment firm, announced that it has closed its TPG Credit Strategies Fund II with $996.7 million. The original target for the fund was $800 million, the firm said.