Axiom Asia Raises $950 Million for Second Fund

Axiom Asia has closed its second Asia-focused fund-of-funds with $950 million in capital commitments. The firm originally targeted $750 million, with Probitas Partners serving as placement agent.

PRESS RELEASE

Axiom  Asia  Private  Capital  Management  Services,  L.P.  (“Axiom  Asia”)  today  announced  the  final closing  on  its  second  fund,  Axiom  Asia  Private  Capital  Fund  II,  L.P.  (the  “Fund”  or  “Axiom  II”).  The  Fund’s  total investor  commitments  of  US$950  million  represent  the  maximum  amount  the  Fund  could  raise  under agreement  with  its  investors  and  exceeded  the  initial  target  of  US$750  million.  The  Fund  was  oversubscribed, with  firm  indications  of  interest  exceeding  US$1.1  billion.  San  Francisco‐based  Probitas  Partners  acted  as principal placement agent for the Fund.

Axiom  II  is  the  successor  fund  to  Axiom  Asia  Private  Capital  Fund  I,  L.P.,  Axiom  Asia’s  first  fund,  which  had US$440 million of investor commitments and commenced investing in 2006. The Fund will invest in a portfolio of management buyout, venture capital, growth capital and other private equity funds in Greater China, India, Japan,  Southeast  Asia,  Korea  and  Australia.  The  Fund  will  typically  target  investments  of  up to  US$100  million per  invested  fund  and  will  also  target  select  investments  in  secondary  fund  interests  and  portfolio  companies alongside invested funds.

The  Fund  is  managed  by  one  of  Asia’s  largest  and  most  experienced  private  equity  fund  of  funds  investment teams  led  by  Yewhong  Goh,  Chihtsung  Lam,  and  Edmond  Ng.  Collectively  the  Axiom  Asia  team  has  invested about  US$6  billion  to  private  equity  globally  since  1994  and  has  experience  investing  through  market  cycles.

Five  of  the  ten  investment  professionals  at  Axiom  (Goh,  Lam,  and  Ng  as  well  as  Marc  Lau  and  Chris  Loh)  had previously  worked  together  at  GIC  Special  Investments,  the  private  equity  arm  of  the  Government  of Singapore  Investment  Corporation.  Other  senior  investment  professionals  at  Axiom  include  Alex  Sao‐Wei  Lee (previously  with  Coller  Capital)  and  Olivia  Tan  (previously  with  McKinsey  &  Co).  The  team  comprises  native Asians with over 70 years of combined private equity experience.

“Our  fundraising  traction  is  a  reflection  of  investors’  positive  view  of  the  Asian  private  equity  market,  Axiom’s team and the performance of Axiom’s first fund. Our experience investing over various cycles like the 1997/98
Asian  financial  crisis  helped  us  to  build  up  a  well‐diversified  portfolio  of  differentiated  funds,  which  has  stood up well despite the global economic crisis.” said Yewhong Goh, a Managing Director at Axiom Asia.

“We  are  grateful  to  our  existing  investors,  who  supported  us  during  a  difficult  period.    98%  of  Axiom  Asia’s existing  investor  relationships  from  Fund  I  are  represented  in  Axiom  II,”  added  Chihtsung  Lam,  another Managing  Director.    “We  are  also  appreciative  of  the  support  of  our  new  investors  who  collectively  invested over US$400MM in Axiom II.”

“We  are  delighted  by  Axiom  Asia’s  success  in  raising  a  second  fund,  essentially  over  the  period  of  the  global recession,”  said  Jack  Wills,  a  Principal  at  Probitas  Partners  who  worked  with  Axiom  Asia  on  the  fundraising. “Axiom  Asia  is  an  exceptional  organization  with  compelling  investment  expertise  in  Asia,  an  area  of  growing investor interest. We congratulate them on their achievement.”

About Axiom Asia Private Capital

Axiom Asia, founded in 2006, is an independent investment firm focusing on fund investments in buyout, venture capital and growth capital opportunities in the Asia Pacific Region. The firm is headquartered in Singapore and manages approximately US$1.4 billion in LP capital. For more information, please visit www.axiomasia.com.