By Ka Kay Lum
The targeted pool of the fourth vehicle includes $100-200 million in co-investment capital.
The pension fund targets to adjust its private equity allocation to 8 per cent of its total budget.
The second fund is almost three times larger than its $365-million debut real estate fund.
Altair will target investments in consumer, education, healthcare, manufacturing and services sectors.
The investment firm has also closed its Yunfeng Fund III Feeder Fund LP at its $40-million hard cap.
This decision was made after Ba Huan JSC was said to seek government help to terminate the deal.
A management shakeup at the sovereign wealth fund has led to conjecture that the government may divest its assets to offset its enormous debt.
The India-and China-focused private equity company, which had raised a $400-450 million fund in 2007-08, was set up by Ketan Patel and Joe Sealy, both former executives of Goldman Sachs’ investment banking division, in 2005.
The fund, which closed in April this year, saw investments from institutional investors across North America, Asia Pacific and Europe.
The deal is expected to value Manjushree Technopack at $250 million.