Baring seeks $3bn for new Asian fund

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hong kongPrivate equity firm Baring has reportedly launched a new Asian fund.

The vehicle is seeking $3bn, according to Private Equity International.

Baring Private Equity Asia currently has capital of $5bn under management across its funds.

The firm has more than 30 portfolio companies across Asia with 95,000 employees and revenues of over $25bn in 2013.

Baring’s recent deals include the acquisition of a 51 per cent stake in the audio and video unit of Japanese car electronics group Pioneer Corp.

Earlier in June Hong Kong-based Baring invested in Chinese group COFCO’s subsidiary COFCO Meat alongside KKR, HOPU and Boyu.

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