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Affinity joins Asia fundraising burst with $3.5bn buyout vehicle

17 Sep 2012

Hong Kong-based buyout house Affinity Equity Partners is reported to be targeting a $3.5bn fundraise for its latest investment vehicle.

Affinity has already begun marketing Affinity Asia Pacific Fund IV according to Reuters.

MVision has been hired as a placement agent for the fund, the report added.

The $3.5bn target is the same as Carlyle Group’s planned Asia fund, but dwarfed by KKR and RRJ Capital’s respective targets of $6bn and $5bn.

KKR has already secured more than $3bn for its second Asia fund, which will rank as the biggest ever raised to target investments in the region if it meets its target.

RRJ is also believed to be near a $2.7bn first close.

Affinity’s latest Asia-focused fundraise will beat the $2.8bn it collected for its third vehicle in 2007 if it hits target, and will far exceed the $700m raised for its second fund in 2004.

The firm primarily comprises the former investment professionals of UBS Capital Asia Pacific, the private equity arm of UBS.

It was spun out of UBS Capital Asia Pacific in March 2004.

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