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Actis seeks $750m for third energy fund

29 Apr 2013

energy_electricity_power_170sqEmerging markets focused private equity firm Actis is reportedly looking to raise $750m for its third energy fund.

The new vehicle will target power assets in Latin America, Asia and Africa, according to Dow Jones, which cited sources familiar with the matter and an investor presentation.

The Actis Energy 3 LP fund is set to top its target, said one of the sources.

Earlier this year Actis exited its investment in Indian powertrain and precision engineering product maker Avtec to private equity firm Warburg Pincus.

Back in march it backed $688m take-private deal for Chinese budget hotel chain 7 Days as part of a consortium led by Carlyle.

Actis, which currently $5.2bn under management, has recently boosted its senior team in South East Asia by hiring Arjun Oberoi as global healthcare sector head and Ivy Santoso as Indonesian country head and Sergio Brandao as a director focusing on the energy sector of Latin America.

Earlier this year Actis raised about $750m towards its latest global fund, putting it more than a third of the way towards its reported $2.2bn target.

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