The vehicle will enable HSBC's private banking clients to invest in diversified private equity solutions.
The vehicle was launched in January this year with a target corpus of $3.5 billion.
Rest of Asia
The deal values the firm at more than $4 billion.
Archer Capital Fund 6 is likely to have the first capital close in August or September.
It will provide direct equity capital into buyout and growth transactions alongside leading GPs.
This brings Carbon’s total fundraising to more than $680 million.
CJF has been under pressure in recent years due to unsatisfactory returns on its investments, most of which have been financed by Japanese taxpayers.
Riverside Australia Fund III has a hard cap of A$350 million ($244 million).
At least five execs led by managing partner and Asia chairman Ravi Thakran will be joining the new spin-out firm.
Piramal Enterprises' evaluation of exit from Shriram Capital is part of the former's long-term strategy to fund growth of its financial services busi
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