Baring Private Equity closes Asia buyout fund at $6.5 billion By Reuters
HONG KONG (Reuters) – Hong Kong-based Baring Personal Fairness Asia closed its seventh non-public fairness fund at $6.5 billion, its largest to this point, the agency mentioned Tuesday.
The fund measurement exceeded Baring’s preliminary goal by $1 billion and is 60% larger than the agency’s earlier fund, it mentioned.
The brand new fund will proceed to give attention to mid- and large-cap buyouts within the area, concentrating on healthcare, training, IT companies & software program, enterprise companies, monetary companies, client, and superior manufacturing sectors.
The vast majority of the capital got here from pension funds and sovereign wealth funds, Baring mentioned.
Fashioned in 1997, Baring has turn out to be certainly one of Asia’s largest non-public fairness funding homes with complete dedicated capital of greater than $18 billion.
It has introduced not less than six investments prior to now yr, together with in Israeli medical gadget maker Lumenis, South Korean client finance and leasing firm Acuon Capital and a healthcare subsidiary of JD.COM Inc (O:).
It’s at present planning to promote portfolio firm HCP Pakaging in a deal that would worth the enterprise at greater than $1 billion, individuals accustomed to the scenario informed Reuters.
Baring, which declined to touch upon the deal, purchased the enterprise from TPG in 2015 for $775 million, Reuters reported on the time.
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