NewQuest Capital Closes Third Fund At $540M

Asian direct secondaries private equity firm NewQuest Capital Partners has completed the final close of its third dedicated secondary fund, NewQuest Asia Fund III, L.P., at over US$540 million in total commitments, according to a company announcement.

A diverse group of pension funds, sovereign funds, insurers and financial institutions backed the fund, which had an original hard cap of US$520 million.

Investing in companies across emerging Asia, Fund III will focus on minority and control transactions of US$25 to US$75 million per company, and US$50 to US$250 million for portfolio acquisitions.

The final close of Fund III follows near full deployment of its second fund, NewQuest Asia Fund II, L.P., which hel...

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