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Report: Axiom Asia raises US$1.4B for 5th Asia-focused fund-of-funds vehicle

Singapore-based private investment firm Axiom Asia Private Capital obtained US$1.4 billion for its fifth Asia-focused fund-of-funds vehicle, Private Equity International reported Dec. 21, citing a person familiar with the matter.

According to the report, Axiom pulled in $321.5 million of capital from 25 investors in March for Axiom Asia V LP, citing a regulatory filing. The firm received commitments above its $1 billion target in July, the report noted.

Citing its own data, PEI stated that the investors in the fund include the State Teachers Retirement System of Ohio, which committed $75 million; the Montana Board of Investments, which invested $40 million; and Metropolitan Government of Nashville and Davidson County Employees' Benefit Trust Fund, which made a $25 million capital commitment.

The capital from the firm's latest fund will support buyout transactions in the lower middle market and provide growth and venture capital to Asia-based companies, the report noted.

Axiom also collected US$210 million of capital for its Asia Co-investment Fund I, the unnamed source added.

Axiom did not comment on the matter.