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Our Bureau

Mumbai , Sept. 7

Baring Private Equity Asia Group has raised $490 million for the Baring Asia Private Equity Fund III, L.P.

Fund III will continue to target mid-sized companies in China, India, Singapore, Taiwan, Hong Kong and Japan needing equity for expansion or management buy-outs. Following the closing, Baring Asia's funds under advisory total over $1 billion in assets.

The Fund received investment from institutional investors including Invesco, Deutsche Bank, Pantheon, SEDCO, Dow Employees' Pension Plan, Singapore's TIF Ventures, United Overseas Bank, Pennsylvania PSERS and the Kuwait Investment Office.

Mr Jean Eric Salata, Founding Partner and Chief Executive Officer of Baring Asia, said, "We want to help companies grow faster, and help them compete regionally and globally."

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