Kuala Lumpur-based private equity firm Navis Capital is reportedly aiming for the $1.5bn hard cap for its seventh Asia-focused fund after hitting its $1.3bn target.
The firm expects to hold a final close in the next few months according to Dow Jones, which cited a person familiar with the matter.
Navis launched the vehicle last October after putting plans in place for the vehicle in the summer.
The new vehicle follows the firm’s sixth fund, which was closed with commitments of $1.2bn in September 2010, three years after Navis raised $1bn for its fifth fund.
Navis is focused on buyouts, recapitalisations and financial restructurings in Asia. It has invested in the food processing, dining, industrial products, consumer goods, advertising, auto rentals and professional services sectors.
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