Pan-Asian fund raises $622m

Hong Kong–based CLSA Capital Partners has raised approximately $622 million for its third fund, Fudo Capital III, according to a filing with the SEC.

Fund III launched this year and aims to raise between $750 million and $1 billion. The pan-Asian fund will target value-added/opportunistic investments with a particular focus on Australia, China, Hong Kong, Japan, Singapore, South Korea and Taiwan.

Its predecessor, Fudo Capital II, closed in November 2009 after exceeding its $750 million fundraising goal by garnering $815.85 million in total commitments.

CLSA Capital Partners is the alternative asset management arm of CLSA Asia Pacific Markets.