HSBC Private Equity (Asia) has closed its sixth fund, HSBC Private Equity Fund 6, on $1.5 billion, exceeding its target size of $1.25 billion.
The fund has currently invested $175 million in three Asian-based businesses. In 2004, HSBCs fifth Asian private equity fund closed on $700 million.
Investors in HPEF6 comprise HSBC, institutional investors from the US, Europe, Asia, the Middle East, and also clients of HSBC Private Bank.
“We are really pleased with the confidence and support which our existing and new investors have shown in our business and HPEAs team during the fundraising process,” says George Raffini, managing director of HSBC Private Equity (Asia) . “Our firm has been an active participant in the Asian private equity industry for almost 20 years and we will continue to work diligently to achieve attractive returns in the future.”
“Notwithstanding the current challenging economic climate, we continue to be positive about our ability to identify compelling investment opportunities and the longer-term economic growth prospects in Asia,” says Marcus Thompson, managing director and CIO. “Our focus will remain on investing in and actively supporting well positioned, middle-market businesses with excellent management teams and strong growth fundamentals.”
D.C.