The Singapore-based private equity fund of funds manager began operating in April 2006, founded by several former private equity specialists from the Government of Singapore Investment Corporation. The firm currently manages assets of USD 1.4 billion and focuses on investing in private equity funds and making co-investments alongside GPs in the Asia Pacific region. Axiom Asia II recently closed on its hard cap target of USD 950 million, although it has been suggested that the oversubscribed fund could have achieved in excess of USD 1.1 billion in commitments. San Francisco-based placement agent Probitas Partners aided the fundraising process.
Axiom Asia II’s predecessor fund, Axiom Asia I, which began investing in 2006, also exceeded its fundraising target, closing on USD 440 million. 98% of the limited partners that invested in Axiom Asia I are represented in Axiom Asia II’s investor pool; the fund also received support from new LPs, the combined commitments of which amount to over USD 400 million of the funds over all capital.
The fund of funds plans to commit around USD 100 million per fund investment and will invest in a range of private equity fund types, including buyout, venture and growth capital in Greater China, India, Japan, Southeast Asia and Australia. It will also selectively make co-investments and purchase secondary market fund interests.
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