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Pakistan PE Fund Closes

JS Group, a Pakistani financial services firm, has closed a $158 million private equity fund dedicated to investments in Pakistan, according to MarketWatch. Limited partners include CDC Group, IFC, Samba, Asian Development Bank, the Swiss Investment Fund for Emerging Markets and Proparco. The fund already has made two investments: A control deal for Optimus, the Hertz franchise in Pakistan, and a minority play in Engro Asahi Polymer & Chemicals, a maker of PVC resin.