L Capital Asia raises $950M for second fund, to go slow on India deals | VCCircle
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L Capital Asia raises $950M for second fund, to go slow on India deals

BY  Madhav A Chanchani
Even as it stays interested in India over the long term, the private equity firm feels that on a relative basis other markets in Asia are much more attractive right now.

L Capital Asia, a private equity firm backed by $37 billion global luxury conglomerate LVMH group, has raised $950 million for its second fund in one of the quickest fundraising rounds in the region. L Capital Asia 2 made a first and final close within six months of launching the fund, exceeding the initial target of $800 million.

While the firm found backing from its existing limited partners (LPs), L Capital Asia 2 has 'geographically well diversified' investors with commitments from institutions including sovereign wealth funds, fund of funds, family offices and pension funds.

"(One of the factors for...

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