Tuesday May 13, 07:26 AM
Baring Asia raises $1.52 billion for regional equity fund
SINGAPORE (Thomson Financial) - Baring Private Equity (Baring Asia) said on Tuesday it has raised a total of $1.52 billion to create the region's largest growth equity fund, with its size about 50 percent bigger than originally planned
due to strong investor demand.
The fund -- The Baring Asia Private Equity Fund IV, L.P. (Baring Asia IV) -- will be invested in businesses valued at between $100 million and $500 million that require additional capital for expansion, it said.
'Baring Asia IV will target companies in the alternative energy, media, financial services, consumer and industrial sectors with operations in China, India, Japan, Singapore, Hong Kong, Taiwan or South East Asia,' the company said.
Baring Asia has a presence in Hong Kong, Singapore, Shanghai and Tokyo, and aims to open offices in Mumbai and Beijing as part of its expansion plan for Baring Asia IV.
Currently, the group has an active portfolio of 28 companies, with a combined 2007 revenue of $4.5 billion.
($1 = S$1.36)
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