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Asia Alternatives Capital Partners closes on $515m15/05/2007. Source: AltAssets. 
 Asian private equity fund of funds manager Asia Alternatives has closed Asia Alternatives Capital Partners on $515m, well above its original target of $350m.
Commitments to the fund came from investors based in the US, Canada, Europe and Asia. They include the California Institute of Technology, California Public Employees' Retirement System (CalPERS), Comprehensive Financial Management, Mass Mutual Asia, Mass Mutual Japan, Massachusetts Mutual Life Insurance Company, OHIM Asia Investors, an affiliate of Oak Hill Investment Management, Ontario Municipal Employees Retirement System (OMERS), Pennsylvania State Employees' Retirement System, F. Warren Hellman, founder of private equity firm Hellman & Friedman, and Arthur Rock, a venture capitalist.
Asia Alternatives Capital Partners seeks to invest in local Asian fund managers. The fund will primary focus on regions including Greater China, Japan, Korea and India, while opportunities in Southeast Asia, Australia and New Zealand will also be considered on an opportunistic basis.
Melissa Ma, co-founder and managing director of Asia Alternatives, said, 'We see a tremendous number of opportunities in the Asian private equity space and are excited to invest in such an active and evolving market.'
Hong Kong-headquartered Asia Alternatives founded by Melissa Ma, Laure Wang, and Rebecca Xu.
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