PE firm ADV Partners raises $597m for second pan-Asia fund

Victoria Peak, Hong Kong. Photo by Florian Wehde on Unsplash

Private equity firm ADV Partners has mopped up $597 million for its second pan-Asia vehicle — ADV Opportunities Fund II, according to an SEC filing by the firm last week.

ADV started fundraising for the vehicle in December last year and has not disclosed the target amount it is looking to raise.

Nevertheless, the capital commitment attracted for the second vehicle so far is larger than the private equity firm’s debut fund that had raised $545 million in 2015 and now has a portfolio of investments across India, China and Southeast Asia.

ADV’s first fund was backed by fund-of-funds manager Asia Alternatives Management, large sovereign wealth funds, US-based state pension funds and family offices.

The private equity firm was founded in 2013 by JP Morgan and Goldman Sachs alums Suresh Prabhala, Brad Landes and Jianyi Zhu to pursue privately negotiated, value investment opportunities within the mid-market corporate segment in Asia.

ADV targets investments in its core markets of China, India and Southeast Asia. It has offices in four locations – Hong Kong, Singapore, Shanghai and Mumbai – and local partnerships in Indonesia and other countries.

In April this year, ADV invested $105 million in Indian infrastructure service company Feedback Infra Private Limited, thus becoming a shareholder in the company after acquiring a stake from two existing shareholders L&T Infra Finance and IDFC.

While the firm counts 13 investments from its first fund, it notes on its website that the investments from the second fund include an unnamed India’s infrastructure service provider and a Singapore-headquartered group that manufactures apparel for top European fashion companies.

Also Read:

India: Asian PE manager ADV Partners invests $105m in Feedback Infra

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.