This would be a first such launch for Headland Capital Partners as an independent PE firm, said the report, adding that MVision Private Equity Advisers would be the placement agent for this vehicle.
Headland Capital, earlier known as HSBC Private Equity Asia (HPEA) Limited, focuses on investment in early, mid, and late venture stage companies, middle-market expansion capital, emerging growth, buyout and growth capital and has advised private equity funds with aggregate committed capital of approximately US$2.9 billion, according to its website.
In 2010, Headland’s senior executives acquired 80.1% of HPEA , re-naming the company Headland Capital Partners Limited (Headland or Headland Capital). The HSBC Group retains a 19.9% interest in Headland.
According to Private Equity International, Headland Capital has had a number of exits this fiscal, and in May 2014, it had sold its controlling stake in the serviced office operator The Executive Centre, to another PE firm – CVC Capital Partners – generating 2.5x return, while retaining a minority stake.
Several PE firms have raised large Asia funds this year. Last month, Baring Private Equity Asia closed its sixth Asia Fund with $3.21 billion, crossing its $3 billion target. In September the Carlyle Group closed a $3.9 billion Asian buyout vehicle, surpassing its $3.5 billion target. Similarly, in July, Morgan Stanley’s Asian PE arm raised $1.7 billion as part of its fourth vehicle for this region, ahead of its $1.5 billion target.