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KV Asia makes it to $250m target for debut private equity fund

9 Aug 2013

Karam Butalia KV AsiaKV Asia Capital, the Singapore-based firm set up by Standard Chartered’s former global head of private equity, has reportedly hit its $250m target for its debut fund.

AltAssets revealed in February that KV was hoping to hold the close by the end of March, but has taken slightly longer than hoped to reach the total according to Dow Jones.

Commitments came from LPs including Hermes and HarbourVest, while MVision Private Equity acted as a placement agent.

The firm hit a $100m first close for KV Asia Capital Fund I in November last year according to local media reports at the time.

KV Asia was founded in 2010 by Karam Butalia, pictured, who was global head of PE at Standard Chartered between 2002 and 2008, and his colleague Vibhav Panandiker.

Panandiker was formerly a managing director at JP Morgan Private Capital Asia, and also spent time at Standard Chartered Private Equity.

Butalia hit the headlines in 2008 when he received a £16m pay-off on leaving Standard Chartered, more than four times the pay of his then boss Peter Sands.

The pair’s debut fund will target mid-market companies in south east Asia with investments of between $25m and $75m.

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