SAIF Partners, a China and India focused fund, has raised a commitment of $120 million from the largest US pension fund California Public Employees' Retirement System (CalPERS). SAIF Partners IV will focus on growth equity opportunities buyouts in Greater China and India, reports PeHub. The target size of the new fund is not known. SAIF
raised $1.1 billion for its fund three in 2007.
When contacted by VCCircle, Ravi Adusumalli, a partner and head of India office at SAIF, declined to comment on the development. SAIF currently has more than $2 billion under management and has invested in around 20 companies in India. Some of its investments include National Stock Exchange, HomeShop18, Sify, MakeMyTrip, One97
Communications, among others.
CalPERS, which has more than $200 billion under management, is an existing investor for SAIF with $100 million in its third fund. US pension funds are increasingly eyeing Asian markets like India and China for PE funds. Recently Teacher Retirement System of Texas said it is planning to invest $200 million in Asian private equity funds. The $8 billion Church Pension Fund from New York also opened an office in Hong Kong earlier this year.