<article>Chinese private equity firm <a style="color: #000080;" href="https://www.dealstreetasia.com/stories/china-pe-orchid-asia-first-final-close-900m-fund-nov-84000/">Orchid Asia Group</a> has raised $1.3 billion for its seventh fund Orchid Asia VII, exceeding the $900-million target announced at the time of the fund&#8217;s launch in July last year.</article>

Chinese private equity firm <a style="color: #000080;" href="https://www.dealstreetasia.com/stories/china-pe-orchid-asia-first-final-close-900m-fund-nov-84000/">Orchid Asia Group</a> has raised $1.3 billion for its seventh fund Orchid Asia VII, exceeding the $900-million target announced at the time of the fund&#8217;s launch in July last year.
According to a regulatory SEC filing by the firm on Tuesday, the date of first sale for the offering was December 15 last year.
It is not clear if the fund is still open for more commitments. There was no response to an emailed query to Orchid Asia on whether $1.3 billion marks the fund&#8217;s final close.
The PE firm&#8217;s seventh growth equity fund expects to make equity investments between $20 and $150 million in 20-25 companies with a minimum enterprise value of $50 million, a disclosure from Pennsylvania Public School Employees Retirement System had said earlier.
Pennsylvania’s retirement fund, according to the disclosure, was looking to make a commitment of $75 million to Orchid Asia VII. It had made a similar commitment to Orchid Asia&#8217;s sixth fund.
The seventh fund will make equity investments in sectors driven primarily by domestic consumption or taking share from international competitors — branded consumer products and services, retail, medical and healthcare, technology, media and telecoms (TMT) and specialty manufacturing.
The private equity firm had mopped up $920 million for its sixth fund in August 2014, breaching its aim to raise about $750 million.
With offices in Hong Kong, Shenzhen, Shanghai, Beijing and Guangzhou, Orchid Asia manages about $3 billion of assets. It invests in expanding domestic enterprises with growth prospects in the consumer services and products sector, as well as the outsourced manufacturing and services sector.
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Chinese private equity firm Orchid Asia Group has raised $1.3 billion for its seventh fund, Orchid Asia VII, that was launched in July last year.

Chinese PE Orchid Asia mops up $1.3b for seventh fund

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Chinese PE Orchid Asia mops up $1.3b for seventh fund

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