Baring Private Equity Asia Awarded Large Cap Firm Of The Year In Asia By PEI
By Private Equity International.
Last year saw Baring Private Equity Asia close its sixth fund on its $3.98 billion hard-cap – one of the largest funds raised by an Asia-based firm – having attracted commitments from the likes of the Illinois Teachers’ Retirement System, Texas County & District Retirement System and New York State Common Retirement Fund.
Two headline-grabbing acquisitions from the fund included the $1.1 billion purchase of Vistra Group from IK Investment Partners and global fund administration and corporate services firm Orangefield Group.
The firm, led by chief executive Jean Eric Salata, also sold its 14 percent stake in Lafarge India back to Lafarge in a deal valued at about $303 million. As of 2015, Baring Asia, whose funds hold more than $9 billion in committed capital across more than 70 companies globally, reported private equity returns exceeding Asian public market indices by 13 percent compounded per year.
Last year the firm also received investment from US-based Affiliated Managers Group (AMG), which acquired a 15 percent passive interest.