Asia-focused private equity firm Lombard Investments has confirmed the close of its oversubscribed fourth fund on its $350m hard cap following 18 months in the market.
The firm targets businesses headquartered in South East Asia or Greater China by making investments of between $5m and $35m.
AltAssets revealed last November that the firm was nearing a $175m first close for the vehicle, which was thought to be targeting up to $400m at the time.
Lombard said it had realised more than $290m from its third fund in the past 12 months through two complete and two partial exits.
That fund closed on $234m in 2007, and has made ten investments since.
Lombard’s most recent exit was Taiwan-based vehicle parts maker San Shing Fastech, which realised the firm about $40m on its $15m investment for a gross return multiple of 2.6 times.
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