Two months after closing its first ever pan-Asia fund of funds, Portfolio Advisors LLC is back in the market working to raise another one.
The firm is looking to secure $300 million for UOB Portfolio Advisors Pan-Asia Fund II LP, a source familiar with the effort told Buyouts. Portfolio Advisors plans to deploy capital from the fund to private equity limited partnerships aimed at investing in Asian countries, mainly Australia, China, India and Japan. The vehicle will also make targeted co-investments. Portfolio Advisors declined to comment for this story.
The fund’s predecessor, UOB Portfolio Advisors Pan-Asia Fund I LP, launched in January 2007 with a $150 million target and closed 10 months later at $190 million. That fund has already begun making distributions to limited partners, our source said. The firm partnered with United Overseas Bank of Singapore to raise both funds.
In addition to its funds-of-funds and specialized funds management practice, Darien, Conn.-based Portfolio Advisors also serves as both a discretionary and non-discretionary adviser for a range of institutional investors, including public and corporate pension funds, foundations, endowments and family offices. The firm’s client list includes Indiana State Teachers’ Retirement System, Nestle USA Pension Plan, Pennsylvania Public School Employees’ Retirement, San Francisco Employees’ Retirement System, United Parcel Service and Utah Retirement Systems. Portfolio Advisors manages or administers more than $55 billion in domestic and international private equity and real estate investments on behalf of clients, according to its Web site.?J.P.