Asia Alternatives Management LLC closed on $1.8 billion in new committed capital with guidance from Pillsbury. According to Law360, $1.5 billion was raised via the Asia Alternatives Capital Partners V LP and Asia Alternative Capital Partners V (ERISA) LP funds, exceeding the initial combined target of $1.3 billion. The remaining amount was raised through fund vehicles in other accounts.
Investors who contributed to Asia Alternatives’ latest fund-raising round include state and corporate pension funds, foundations, university endowments, insurance companies and family offices in the U.S., Canada, Europe, Latin America and Asia. Institutional investors included The Boeing Co., Massachusetts Mutual Life Insurance Co., Jasper Ridge Partners and San Francisco City and County Employees’ Retirement System, among others.
Founded in 2005, Asia Alternatives is one of the largest independent Asian private equity fund-of-funds. The firm invests with top performing private equity fund managers across Asia primarily in Greater China (Mainland China, Taiwan, and Hong Kong), Japan, Korea, South East Asia, India and Australia and has approximately $9 billion in regulatory management.
Washington, DC Corporate partner Kimberly Mann led the Pillsbury team representing Asia Alternatives in the matter. San Francisco Corporate partner Dave Lillevand, senior associate Deborah Carrillo and associates Jamin Agosti, Natasha Allen, Paul Casas and Robert Tian, and New York Tax special counsel Ivan Mitev were also involved.