Asian private equity firm ADV Partners has raised $545 million for its debut pan-Asia fund. ADV Opportunities Fund I LP will mostly focus on China and India. The pool’s limited partners included a sovereign wealth fund, a superannuation fund, various U.S. state pension programs, fund of funds, endowments and family offices. Eaton Partners was the placement agent.
Rowayton, CT, Sept. 11, 2015 – Eaton Partners (“Eaton”), the largest independent, partner-owned, global fund placement agent, is pleased to have served as the exclusive placement agent for Asian private equity firm ADV Partners (“ADV”) on its inaugural pan-Asia fund, ADV Opportunities Fund I, L.P., exceeding its target to reach $545 million.
The fund is the fifth fundraising Eaton has closed this year in Asia, bringing the total amount raised for the region to more than $3 billion. ADV was co-founded in 2013 by Brad Landes, Suresh Prabhala and Jianyi Zhu who worked together at Mount Kellett Capital and previously held senior management roles with the Asia principal investment platforms of JP Morgan and Goldman Sachs. The firm is headquartered in Hong Kong and has 20 professionals across its four regional offices.
The newly-closed fund employs a value investment approach to private equity and looks to partner with entrepreneurs and management teams of mid-market companies across a range of industries. The fund invests in China and India as its main focus, with Southeast Asia and developed Asia/Australia as opportunistic markets.
The fund has a globally diversified investor base including a sovereign wealth fund, a superannuation fund, multiple US state pension programs, fund of funds, endowments and family offices, and committed approximately 30% of the total raised to date.
“Following a detailed exercise in landscaping regional managers, we concluded that ADV’s unique yet proven strategy is well suited to capitalize on inefficiencies present in Asian markets,” said Chris Lerner, Partner and Eaton’s Head of Asia. “We worked hand-in-hand with the ADV team on the fundraise and are very proud of the outcome given 2014 and 2015 have been challenging fundraising years.”
About Eaton Partners
Founded in 1983, Eaton Partners is the oldest, largest and most experienced fund placement agent in the world, having raised more than $67 billion across 87 highly differentiated funds. With over 60 professionals across offices in North America, Europe and Asia, the firm raises institutional capital for investment managers across a full range of alternative strategies – private equity, real assets, real estate and hedge funds/public market strategies. Eaton Partners is currently in the market with funds whose strategies include: private equity, sector-specific and general buyout, real estate, energy, agriculture, growth equity, opportunistic credit/special situations/distressed, event driven, long/short equity, midstream and MLPs, and emerging markets equity. Partnering with a select number of the highest-quality fund managers, Eaton Partners has represented some of the most innovative funds of the last three decades. With extensive institutional relationships, deep sector knowledge, fresh insights and a partner-driven approach, Eaton Partners is dedicated to every client’s success.
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