Taiwan’s Yue Yuen commits $50m to Baring PE Asia’s eighth buyout fund

Taipei City, Taiwan. Photo by Tom Ritson on Unsplash

Yue Yuen Industrial, a subsidiary of Taiwan-listed footwear manufacturer Pou Chen Corporation, has committed $50 million to the eighth buyout fund of Baring Private Equity Asia, according to a stock exchange filing.

The commitment will give Yue Yuen a 0.59% share in Baring Asia PE Fund VIII, a buyout vehicle that seeks about $8.5 billion in commitments, per the filing.

Yue Yuen is 51.11% owned by Pou Chen Corporation, the largest branded athletic and casual footwear manufacturer in the world. Pou Chen manufactures footwear on an OEM basis for major global brands such as Nike, Adidas, Asics, Reboook, Puma, among others.

Baring PE Asia announced earlier this month that it is seeking to raise $8.5 billion for its eighth buyout fund. The fundraising target represents a $2-billion increase compared to the predecessor fund, which held a final close in January 2020 at $6.5 billion.

Baring PE Asia intends to make a GP commitment of at least 2.5% of the aggregate capital commitments to its latest vehicle, according to the documents from the Employees Retirement System of Rhode Island (ERSRI). The pension fund is planning to commit up to $50 million to the fund.

The Hong Kong-based manager’s Fund VIII also recently received a commitment of up to $100 million from another US pension fund, the Illinois Municipal Retirement Fund.

Baring PE Asia’s eighth fund will allocate up to 10% of its capital to growth-stage investments, alongside traditional buyouts.

The Asian PE firm typically targets control buyouts of companies with enterprise values between $500 million and $2 billion across China, India, Japan, Korea, Southeast Asia, Australia, and cross-border deals where Asia could play a significant role in future returns.

The firm’s eighth fund will write cheques between $150 million and $500 million and invest in 18 to 22 companies.

Fund VII, which was 71% committed into 17 transactions by the end of June 2021, delivered a 1.8x net MOIC and 52% net IRR.

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.