Funds of Funds Investing in Asia and Rest of World

by Antonia Lee

  • 15 Dec 2011
  • PE

Preqin’s Funds in Market product currently tracks 42 funds of funds with a primary focus on Asia and Rest of World. They are seeking a total of $10.1 billion, a rise from the 28 vehicles seeking $8.4 billion in December of 2010 and the 25 funds which were seeking $6.4 billion in December 2009. As a proportion of fundraising for all funds of funds, we have also seen an increase in terms of the number and aggregate target of Asia and Rest of World-focused funds of funds. Such funds currently represent 27% of the total number and 26% of the aggregate target, a substantial increase on the corresponding figures in 2010 - 19% of the total number and 19% of the aggregate target. Of the 42 Asia and Rest of World-focused vehicles currently on the road, 29% have held interim closes raising a total of $1.1 billion so far.

The largest Asia and Rest of World-focused fund of funds vehicle currently seeking capital is Guochuang Kaiyuan Fund of Funds. The vehicle, which is expected to close at the end of the year, is targeting a total of CNY 10 billion ($1.5 billion). Guochuang Kaiyuan Fund of Funds is part of a joint venture between China Development Bank (CDB) and Suzhou Ventures Group. Its main objective is to provide capital for domestic private equity and venture capital firms that have difficulty in raising funds, and it is expected to be a significant limited partner for each fund in which it participates.

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