Ex-GIC Managers Raise $1.15 Billion in Axiom's Third Fund

Axiom Asia Private Capital, run by former managers of Singapore’s sovereign wealth fund, has raised $1.15 billion in a third fund that invests in private equity managers in Asia.

About 60 percent of the fund is raised from investors in the U.S. including Menlo Park, California-based William and Flora Hewlett Foundation and Comprehensive Financial Management, a family office based in Los Gatos, California, according to Chihtsung Lam, a managing partner at Singapore-based Axiom.

A quarter of the money came from European investors while most of the remainder was from the Middle East, Lam, who was previously with Government of Singapore Investment Corp., said in a telephone interview last week.

To contact the reporter on this story: Sanat Vallikappen in Singapore at vallikappen@bloomberg.net

To contact the editor responsible for this story: Chitra Somayaji at csomayaji@bloomberg.net

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