Axiom Asia Reaches Final Close for Fifth Fund of Funds at US$1.4 Billion
Posted On: 21 Dec 2018 | Source(s): Private Equity International, Asia Venture Capital Journal | Author(s): Carmela Mendoza, Tim Burroughs
Asia-focused fund of funds manager Axiom Asia Private Capital has reached a final close for its fifth regional fund of funds with US$1.4 billion in capital commitments. Investors in the fund include State Teachers Retirement System of Ohio, which committed US$75 million; Montana Board of Investments, which invested US$40 million; Metropolitan Government of Nashville and Davidson County Employees’ Benefit Trust Fund, which committed US$25 million; and Michigan Retirement Systems. The fund will devote 80 percent of its corpus to primary fund commitments and the remaining 20 percent to secondary commitments and co-investments. Axiom has also reached a final close for its first dedicated co-investment vehicle with US$210 million in capital commitments.