About - Asia Alternatives

About Asia Alternatives Management LLC

Asia Alternatives is a solution platform dedicated to helping institutional investors make investments in private equity and secondaries across Asia. The Firm currently manages approximately $15 billion of regulatory assets under management across Asia Alternatives Capital Partners, LP (“AACP I”) ($515 million), Asia Alternatives Capital Partners II, LP (“AACP II”) ($950 million), Asia Alternatives Capital Partners III, LP (“AACP III”) ($908 million), Asia Alternatives Capital Partners IV, LP, along with its sleeve fund focused on investments outside of Japan, AACP IV Ex-Japan Investors, LP ($1 billion), Asia Alternatives Capital Partners V, LP along with its parallel fund, Asia Alternatives Capital Partners V (ERISA), LP ($1.515 billion), and Asia Alternatives Capital Partners VI, LP and its related parallel funds ($1.1 billion), Asia-focused private equity Funds-of-Funds (FoF), plus other related fund vehicles. Asia Alternatives invests with top performing private equity fund managers across Asia, primarily in Greater China (Mainland China, Taiwan, and Hong Kong), Japan, Korea, South East Asia, India and Australia, and is diversified across buyout, growth and expansion, venture capital and special situations funds. The Firm currently has over 50 professionals and offices across Hong Kong, Beijing, Shanghai and San Francisco.

Asia Alternatives Capital Partners, LP (“AACP I”)

Asia Alternatives’ first fund, Asia Alternatives Capital Partners, LP, is a $515 million dedicated Asia only, private equity funds‐of‐funds which held a final close in May 2007.

Asia Alternatives Capital Partners II, LP (“AACP II”)

Asia Alternatives Capital Partners II, LP was formed to continue the successful risk-adjusted return strategy deployed in AACP. AACP II had its final closing in September 2008 with a total of $950 million committed capital.

Asia Alternatives Capital Partners III, LP (“AACP III”)

Asia Alternatives Capital Partners III, LP was created to continue the successful risk-adjusted return strategy deployed in AACP and AACP II. AACP III had its final closing in July 2012 with a total of $908 million committed capital.

Asia Alternatives Capital Partners IV, LP, along with its sleeve fund, AACP IV Ex-Japan Investors, LP (collectively “AACP IV and Ex-Japan”)

Asia Alternatives Capital Partners IV, LP and AACP IV Ex-Japan Investors, LP was created to continue the successful risk-adjusted return strategy deployed in AACP I, AACP II and AACP III. AACP IV and Ex-Japan had its final closing in April 2015 with a total of US$1 billion committed capital.

Asia Alternatives Capital Partners V, LP which, along with its parallel fund, Asia Alternatives Capital Partners V (ERISA), LP (together “AACP V”)

Asia Alternatives Capital Partners V, LP which, along with its parallel fund, Asia Alternatives Capital Partners V (ERISA), LP was created to continue the successful risk-adjusted return strategy deployed in AACP I, AACP II, AACP III and AACP IV. AACP V closed on US$1.515 billion of committed capital. AACP V had its final closing in September 2017 with a total of US$1.515 billion of committed capital.

Asia Alternatives Capital Partners VI, LP and its related parallel and feeder funds (together “AACP VI”)

Asia Alternatives Capital Partners VI, LP and its related parallel and feeder funds, was created to continue the successful risk-adjusted return strategy deployed in AACP I, AACP II, AACP III, AACP IV and AACP V. The latest, AACP VI, closed in December 2021 on US$1.1 billion of committed capital and together with related vehicles for a total of US$2.0 billion of committed capital.

Company History

2005

Asia Alternatives is Co-Founded by Melissa Ma, Laure Wang and Rebecca Xu

2006

Asia Alternatives opened offices in Hong Kong, Beijing and San Francisco
Asia Alternatives is the first Asia private equity fund-of-funds to open an office in Mainland China

2007

Asia Alternatives raises the largest Asia-dedicated fund-of-funds and their inaugural fund, Asia Alternatives Capital Partners, LP, at $515 million

2008

Asia Alternatives raises $950 million for their second fund, Asia Alternatives Capital Partners II, LP

2009

Asia Alternatives Beijing office receives WFOE license – 鲲行投资咨询(北京)有限公司

2011

Asia Alternatives is the world’s first and only Limited Partner to receive a Qualified Foreign Limited Partner (“QFLP”) license under the Pilot Program of Foreign Invested Private Equity Investment Enterprises from the Shanghai government
Asia Alternatives opens their second office in Mainland China in Shanghai

2012

On August 8, Asia Alternatives announced the final close of over $1.5 billion in new commitments across several fund vehicles (the “Funds”). The largest of the Funds is Asia Alternatives Capital Partners III, LP (“AACP III”) at $908 million of committed capital.

2015

In April 2015, Asia Alternatives announced the final close of over US$1.8 billion in new commitments across Asia Alternatives Capital Partners IV, LP (“AACP IV”) and its related fund vehicles (“Fund IV”). The largest of the Funds is Asia Alternatives Capital Partners IV, LP, which, along with AACP IV Ex-Japan Investors, LP, closed on US$1 billion of committed capital, above their combined target of US$750 million.

2017

In August 2017, Asia Alternatives reached agreement with its Founding Investors to buy back their shares in Asia Alternatives Management LLC. Asia Alternatives is 100% owned by the partners of the Firm.
On September 13, 2017, Asia Alternatives announced the final close of over US$1.8 billion in new commitments across Asia Alternatives Capital Partners V, LP and several fund vehicles (the “Funds”). The largest of the Funds is Asia Alternatives Capital Partners V, LP which, along with its parallel fund, Asia Alternatives Capital Partners V (ERISA), LP (together “AACP V”), closed on US$1.515 billion of committed capital, exceeding their combined target of US$1.3 billion.

2018

On September 10, 2018, Asia Alternatives Management LLC (“Asia Alternatives”) and Franklin Resources, Inc. [NYSE:BEN], a global investment management organization operating as Franklin Templeton Investments (“Franklin Templeton”) entered into a new joint venture. The firms are partnering to launch Franklin Templeton Private Equity, LLC (“FTPE”), a new entity being formed to provide investors with bespoke global private equity fund-of-funds solutions. Franklin Templeton will be the majority owner, and Asia Alternatives and members of the FTPE management team will hold minority stakes in the new entity.

2021

On December 28, 2021, Asia Alternatives announced the final close of US$2.0 billion in new commitments across Asia Alternatives Capital Partners VI, LP and several fund vehicles (the “Funds”). The largest of the Funds is Asia Alternatives Capital Partners VI, LP which, along with its related parallel fund and feeder funds, (together “AACP VI”), closed on US$2.0 billion of committed capital, exceeding their combined target of US$1.8 billion.