ASEAN Alliance Fund nears $150m first close


news_asia_lrgAsia-focused private equity fund ASEAN Alliance Fund is reportedly set to hold a first close.

The fund, which was launched by Vietnam-focused investment firm VinaCapital, Indonesian private equity firm Batavia Prosperindo, Thailand’s Finansa and Dutch banking group FMO, will hold a first close of $150m before the end of the year, said Dow Jones, citing sources familiar with the matter.

The $300m-targeting fund will invest in member states of the Association of Southeast Asian Nations.

Finansa previously said that the fund would hold its first close in the third quarter in 2013.

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