NewQuest Raises $540 million for NewQuest Asia Fund III
06.27.16
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Simpson Thacher represented NewQuest Capital Partners in connection with the formation and raising of its third direct secondaries fund, NewQuest Asia Fund III. The fund has reached a final close in June 2016 at the hard cap of $540 million, increasing it from the original hard cap of $520 million in order to accommodate investor demand. The fund, which was launched in September last year, had an initial target of $500 million. The fund's first close was held in March, beating the initial target for the entire vehicle.
The Simpson Thacher team representing NewQuest consisted of Adam Furber and Michael Ceulen (Funds); Tanvi Mirani (Tax); Paul Dodd (AIFMD); and Jeanne Annarumma (ERISA).