PRINT THIS PAGE Actis closes India Fund 2 on $325m and South Asia Fund 2 on $150m09/09/2005. Source: AltAssets. 
 Emerging markets private equity investor Actis has raised $475m for investment in South Asia through its India Fund 2 and South Asia Fund 2. India Fund 2 has closed on $325m, above its original $300m target, while South Asia Fund 2 held its final closing on the original target fund size of $150m. India fund 2 had a first closing on 262m in June 2005 and South Asia Fund 2 on 135m in August 2005.
LP commitments came from a number of investors from Asia, Europe, the US and the Middle East, as well as CDC and GIC Special Investments.
Actis India Fund 2 will back management teams operating in sectors involving globally competitive manufacturing companies, scalable service businesses and companies with strong domestic share. It will provide financing for control and shared control deals and management buy-outs, and also expansion capital in sectors such as technology, business process outsourcing, pharmaceuticals, fast moving consumer goods, financial services and automotive ancillaries.
Actis South Asia Fund 2 will invest alongside Actis India 2 Fund in Indian investments and a similar amount in Sri Lanka, Bangladesh and Pakistan.
Paul Fletcher, senior managing partner, Actis, said, 'Actis is a proven leader in the region, driven by our ability to deliver innovative deal structures and solutions and our experience of all types of private equity. In particular, we have pioneered the buy-out market in India. We have demonstrated our ability to make significant returns and this new fund will enable us to continue to develop our track record.'
Donald Peck, managing partner responsible for Actis's activities in South Asia, added, 'The successful closure of these Actis funds comes at an auspicious time for the regional private equity market. Not only does underlying economic growth continue to accelerate, but the entrepreneurial and technical talents of South Asian management teams and promoters are beginning to be unleashed in new forms of private equity transactions, many of them on the buy-out model.'
Actis currently has approximately $3bn under management. The firm has been investing in emerging markets for over 55 years. In addition to South Asia, Actis focuses on investments in Africa, China and Malaysia.
When the restructuring of CDC Capital Partners into an investment company and a management company was finalised in July 2004, the management company was called Actis and the investment company retained the CDC.
CDC is a government-owned fund of funds business with assets of $1.9bn focusing on emerging markets. It has committed capital to 35 funds in Africa, Asia and Central America.
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