Asia Alternatives Raising Second fund

Asia Alternatives of San Francisco has held a $138 million first close for its second fund-of-funds targeting the Asia market, according to a regulatory filing. No target information was disclosed. C.P. Eaton Partners is serving as placement agent.

The firm last year closed its debut fund-of-funds with $515 million. Limited partners included  CalTech, CalPERS, Comprehensive Financial Management, Mass Mutual Asia, Mass Mutual Japan, Massachusetts Mutual Life Insurance Company, OHIM Asia Investors (affiliate of Oak Hill Investment Management), OMERS, PSERS, Warren Hellman and Arthur Rock. C.P. Eaton Partners served as placement agent. www.asiaalternatives.com