Affirma Capital has held a first close of its fifth Korea fund, Ascenta V, with an AUM of USD403 million, to invest in buyout and growth capital opportunities in emerging markets including Asia, Africa, and the Middle East.
Singapore-headquartered Affirma Capital is targeting a final close for Ascenta V of USD636 million by October 2021. Affirma Capital increased the fund’s target size by 40 per cent from USD455 million, despite raising funds during the pandemic, according to the firm.
Affirma Capital is an emerging market-focused private equity firm with a total AUM of USD3.5 billion. Founded through the spin-off of Standard Chartered Private Equity from Standard Chartered Group in 2019, Affirma invests in buyout and growth capital opportunities in emerging markets.
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