Japan's Alternative Investment Capital Ltd (AIC) is planning to raise a new private equity fund of funds next year to invest in markets like India and China, besides Japan. This will be the third fund from Tokyo-based AIC, which has $2.7 billion under management and is

majority owned by Misubishi, reports Bloomberg.

“In Asia, we’re seeing funds that are trying to capture the gross capital in countries such as China and India on the back of the economic growth and that’s an opportunity for us,” Kazushige Kobayashi, president and CEO of AIC, told Bloomberg.

Several limited partners are trying to capture the growth in Asian economies by increasing commitment to the region. Recently US pension fund Teacher Retirement System of Texas announced its plans to invest $200 million in Asian private equity funds.

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