* CapAsia has raised more than $500 mln capital
* CapAsia has more than $400 million AUM
* Stake sale comes as banks jettison private equity assets
* Agreement follows Rohatyn deal for 50 pct of ARCH Capital
By Stephen Aldred
HONG KONG, Feb 13 (Reuters) – U.S.-based private asset
management firm Rohatyn Group said on Monday that it has agreed
to acquire 60 percent of CapAsia, the private equity arm of
Malaysia’s CIMB Group Holdings Bhd.
Financial details of the transaction were not disclosed.
Singapore-based mid-market fund CapAsia has raised more than
$500 million in capital commitments across three funds,
including an Islamic fund, and has more than $400 million in
assets under management.
CIMB’s sale of a stake in CapAsia comes as banks are turning
off commitments to new private equity funds and jettisoning
existing assets, anticipating regulation that makes holding
private equity assets more costly.
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