MVision takes over as placement agent for Clearwater Capital flagship

  • Firm: Clearwater Capital
  • Fund: Clearwater Capital Partners Fund V
  • Target: Undisclosed
  • Placement Agent: MVision

Clearwater Capital Partners, the Hong Kong- and New York-based credit investor in Asia, has lined up MVision as placement agent for Clearwater Capital Partners Fund V, according to a filing.

The filing lists $5 million for the placement agent sales commission. It did not reveal how much the fund collected so far, nor the target.

A spokeswoman for MVision declined to comment.

Robert Petty, managing partner and co-founder of Clearwater Capital, is listed on the filing as an executive. The firm’s other co-founder is Amit Gupta, who works under the formal title of partner.

Clearwater Capital raised $575 million in commitments for Clearwater Capital Partners Fund IV, which held a final close in July 2012.

In 2011, the firm listed Greenhill & Co as the placement agent for Fund IV, which disclosed $366 million in commitments at the time.

The vintage 2011 Clearwater Capital Partners Fund IV rang up an investment multiple of 1.2x as of March 31, 2015, for New York State Common Retirement Fund. The fund didn’t provide an IRR figure. The vintage 2006 Clearwater Capital Partners Fund III produced an IRR of 4.7 percent for California Public Employees Retirement System as of Dec. 31, 2015.

Clearwater Capital didn’t comment.

In 2015, Clearwater Capital inked a strategic partnership with KDB Private Equity, the largest PE manager in Korea, to identify investment opportunities in China, India and Southeast Asia. Also that year, Clearwater Capital formed a $300 million credit platform in India with an investment from Abu Dhabi Investment Council and Varde Partners.

Action Item: Clearwater Capital,

A Chinese junk sails at Hong Kong’s Victoria Harbour Feb. 12, 2004. Photo courtesy Reuters/Kin Cheung