Dymon Asia PE closes third fund at US$650m as investors take a long view amid uncertainties

SOUTH-EAST ASIAN investor Dymon Asia Private Equity (DAPE) has hit the final close of its third fund at a hard cap of US$650 million, just about 5 months after its launch, the company told The Business Times (BT) on Wednesday (Sep 28).

DAPE – whose investments include Challenger Technologies and Singapore O&G – initially targeted to raise US$550 million when the fund was launched in April. But the 10-year-old firm received strong demand from public pension funds, endowments, banks and insurance companies, fund-of-funds, and multi-generational family offices, even amid the tepid macroeconomic outlook.

While private investors have grown more cautious in this climate, they “tend to take a long-term approach when they invest in private equity funds, and not be too bothered by shorter-term market volatility”, DAPE’s managing partner Keith Tan told BT.