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NYSTRS commits to KKR Asia, Pine Brook, Spark Capital

29 Apr 2013

Asia map 2KKR has picked up an $85m commitment for its Asia fund from the New York State Teachers’ Retirement System amid the LP agreeing a trio of investments in private equity vehicles.

NYSTRS also provided $150m to Pine Brook Capital Partners II according to the agenda for its April board meeting, with another $15m going to Spark Capital IV.

The LP said it was also performing due diligence on a commitment of up to $30m in Highland Capital Partners IX and $150m to Olympus Growth Fund VI, both of which it expected to close by the end of this month.

Last week it emerged KKR Asia Fund II had raised nearly $4.8bn from 106 LPs, which together with a $250m commitment from the GP gave it $5.05bn according to a filing with US securities regulators revealed.

The fund is targeting $6bn and is expected to close the vehicle by the end of the second quarter of 2013.

Highland Capital Partners recently revealed it planned to continue raising smaller funds following the financial crash after launching a $400m-targeting ninth vehicle.

Highland Capital Partners 9 is aiming to raise the same amount as the firm’s last vehicle, which it closed in 2009.

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