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SVG Advisers closes fund of funds for Asia, opens Singapore office08/09/2008. Source: AltAssets. 
 SVG Advisers, the private equity fund management business of SVG Capital, has closed the SVG Asia Fund of Funds on $200m, above its target of $150m. Together with the closing of this fund the firm has announced that it now has an Asian office, in Singapore, headed up by Simon Lund.
The new fund has received a $25m commitment from SVG Capital. Other investors include high-net-worth individuals in the UK and Ireland.
SVGAFOF will invest in funds across the region. The fund has already committed to CVC Capital Partners Asia-Pacific III, Navis Capital Partners Asia V, Affinity Equity Partners III and Actis India III. Underlying portfolio investments are expected to include growth capital and buy-out transactions.
SVGA has also announced that it has hired Khim Tan as head of Asian fund investment. Tan will analyse Asian private equity investment opportunities. He will spend several months in the London office before relocating to Singapore. Tan will report to Sam Robinson, director, private equity.
Tan previously was an associate director of the fund of funds team at Hermes Private Equity. Prior to this, he spent seven years with GIC Special Investments, latterly as assistant vice president for the Europe Private Equity Group in London.
SVGA advises vehicles with funds under management and commitments to private equity of over €4.4bn.
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