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Laxman Pai, Opalesque Asia:

Asian private equity fund-of-funds Asia Alternatives has announced the final close of US$2 billion in new commitments across Asia Alternatives Capital Partners VI (AACP VI) and several fund vehicles.

The Funds are focused on building a diversified Asia private equity portfolio with an emphasis on top-performing local Asian fund managers, said a press release from Asia Alternatives, which manages approximately $16.5 billion of regulatory assets under management.

Over 85% of committed capital came from pre-existing relationships, it said. Melissa Ma, Co-Founder and Managing Partner of Asia Alternatives: said: "Our extensive experience investing through market cycles and the lasting relationships we have forged with leading fund managers across Asia provide a unique perspective and the ability to take advantage of the opportunities market volatility has created. Those relationships, along with our track record, have positioned Asia Alternatives as one of the leading private equity investors in Asia."

Institutional investors across the Funds include The Boeing Company, Cathay Life Insurance Co., Comprehensive Financial Management, The Dai-ichi Life Insurance Company, Limited, Florida State Board of Administration, Intermountain Healthcare, Jasper Ridge Partners, Maryland State Retirement and Pension System, Massachusetts Mutual Life Insurance Company, McKnight Foundation, Minnesota State Board of Investment, New York State Common Retirem......................

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