Axiom Asia Private Capital announced the final close of its fourth fund Axiom Asia IV, L.P, for over $1 billion. The firm secured the funds in total commitments from a cohort of institutional limited partners, outdoing its target of $750 million.
In an official statement, the firm stated it had begun raising capital for the fund in 2015 and has received tremendous support from the existing investors. It further explained it was looking to invest with fund managers who bring unique and advantaged capabilities to capitalize on opportunities in their local markets and continue to emphasize commitments to highly capable next generation fund managers who are raising first or second funds.
The latest fund is smaller in size as compared to the previous fund, Axiom Asia III, which closed in March 2012 at $1.15 billion. Whereas, the first fund closed in 2007 at $440 million and second fund closed in 2010 at $950 million.
The fund will continue Axiom’s proven strategy of offering investors access to a portfolio of top-tier, Asian-focused private equity funds that can provide attractive risk-adjusted returns, maintaining the consistency with its predecessor funds. It will be primarily investing in buyout, venture capital, growth capital and other private equity funds.
Axiom Asia Private Capital is led by Managing Partners Edmond Ng, Chris Loh, Alex Lee and Marc Lau. Edmond said,
The amount raised is a testament to the strong track record of Asian fund managers who have proven their ability to innovate and create profitable investment opportunities. It also highlights the appeal of our differentiated investment strategy that can generate returns even in times of market volatility.
Alex adds they believe private equity in Asia remains one of the most promising asset classes to invest in because of the economic dynamism of the region. Asia continues to possess the largest concentration of rising middle-class consumers which provide a unique growth driver for companies.
The statement also mentions Marc quoting that General Partner has increased its GP commitment in every successive Axiom Fund and raised it by one and a half times in Fund IV to further align its interest with its limited partners.
Established in 2006, Axiom Asia is an independent fund management firm focused on investing in the Asia Pacific region. It offers investors access to top-tier Asian-focused private equity funds diversified across buyout, growth and venture capital. The firm’s funds’ limited partners include endowments, foundations, family offices, pensions, and financial institutions, spanning the globe.