The fund was significantly oversubscribed according to Orchid, which said it had received about $1.3bn of interest.
Orchid easily beat the $750m target it initially had for the vehicle thanks to investment from LPs including the Pennsylvania School Employees’ Retirement System, which agreed to commit up to $75m.
PSERS previously committed $40m to the firm’s fifth fund, which it closed on $650m in July 2011.
Orchid Asia VI will make investments of between $5m and $50m in mid-market businesses based in China, according to documents published by PSERS.
It will focus on the consumer services and products, healthcare, high-tech and outsourced manufacturers and services sectors based in Greater China with up to 25 per cent expected to be invested in other markets.
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