SVG Advisers (SVGA), the private equity fund management and advisory business of SVG Capital, has announced the closing of its SVG Asia Fund of Funds by raising $200 million, exceeding its target of $150 million. The firm has also appointed Khim Tan as Head of Asian Fund Investment, while it also announced the opening of its first Asian office in Singapore, to be headed up by Simon Lund.
The FoF will “invest in a diversified portfolio of private equity funds across the region, targeting managers with an established presence and track record”, a release said. SVGA also has the mandate to over commit up to $260 million to 12 to 15 funds. So the firm has already made commitments to CVC Capital Partners Asia-Pacific III, Navis Capital Partners Asia V, Affinity Equity Partners III and Actis India III. These funds will make growth capital and buy-out transactions.
SVGAFOF has received commitments from leading institutional investors in Europe, including $25 million from SVG Capital, as well as HNW individuals in the UK and Ireland.
Khim Tan will be responsible for the analysis of Asian private equity investment opportunities. He will spend several months in the London office before relocating to Singapore.
Khim joins SVGA from Hermes Private Equity where he was an Associate Director of the fund of funds team. During his time at Hermes, Khim was responsible for developing the firm’s investment strategy for Asia. Prior to this, he spent seven years with GIC Special Investments, latterly as Assistant Vice President for the Europe Private Equity Group in London.
Andrew Williams, Chief Executive of SVG Advisers, said: “While this is SVG Advisers’ first fund solely dedicated to the region, we have solid experience investing in Asian private equity spanning 20 years. We believe the current Asian market presents significant opportunities for investors and the successful fund close reflects their confidence in SVG Advisers’ ability to select leading private equity managers.
SVGA-managed products have committed over $150 million to Asian private equity funds since 2006. SVGA is also a founding member of the Emerging Markets Private Equity Association (EMPEA).
SVGA advises vehicles with funds under management and commitments to private equity of over €4.4 billion. Founded in 1996, SVG Capital is listed in Lomdom Stock Exchange.