NewQuest Capital Partners, an APAC-focused secondaries platform owned by global asset manager TPG, has led a $465m (鈧�422m) fundraising for a logistics vehicle managed by Hidden Hill Capital, the GLP-backed Chinese private equity manager.
said that the Hidden Hill Foundation Fund was oversubscribed, with its investors coming from a well-diversified group, including parties from North America, Asia and Europe.
Min Lin, a founding partner of NewQuest Capital Partners, said the firm was delighted to lead the transaction, to support Hidden Hill, and through it, to gain exposure to a portfolio of 鈥渉igh quality and innovative鈥� companies.
The fund will invest in modern logistics and supply chain ecosystems in China and Asia.
鈥淭he successful fundraise, which closed above the fundraising target in a matter of six months, is a strong vote of confidence from our investors,鈥� said Higashi Michihiro, managing partner of Hidden Hill.
Teresa Zhuge, executive vice chairman of GLP China, said: 鈥淗idden Hill invests in companies that leverage the strength of GLP鈥檚 logistics ecosystem and are taking part in the global energy transition.鈥�
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