Singapore: Axiom Asia Private Capital raises $391m for fourth fund of funds

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Axiom Asia Private Capital website.
Axiom Asia Private Capital website.

Singapore-based private equity firm Axiom Asia Private Capital has raised about $391 million for its latest vehicle, according to a filing with the US Securities and Exchange Commission.

The firm has attracted commitments from about 26 investors for its fourth fund of funds, Axiom Asia IV, according to the November 24 filing.

Axiom declined to disclose the fund target in the filing. The firm took only four months to raise its previous fund of funds, Axiom Asia Private Capital Fund III, which beat its $950 million target to close on $1.15 billion in March 2012, PEI Alternative Insights said, based on data from its research and analytics division.

Axiom currently manages three private equity funds of funds, with total commitments of over $2.5 billion. Axiom’s first fund was closed in 2006 at $440 million, its website stated.

The firm’s second fund was closed in 2010 at $950 million, while the third fund closed in 2012 at $1.15 billion.

Axiom makes secondaries purchases through its funds of funds in addition to co-investments and direct investments, as well as its main activity of investing in private equity funds across buyout, growth capital and venture capital.

The firm focuses on Japan, Korea, China, south-east Asia, Australasia and the Indian subcontinent.

There are currently 39 funds in market focusing on secondaries, fund of funds or co-investments in the Asia-Pacific region, seeking a total of at least $6.6 billion, according to PEI data.

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