Capital International has closed its latest emerging market fund on a $3billion hardcap, exceeding its original target by $500m.
Capital International Private Equity Fund VI (CIPEF VI) secured commitments from more than 60 institutional investors and was oversubscribed. About 90% of the commitments were from its existing investors from previous funds.
The fund will focus on 16 emerging market countries and plans to make between 15 and 20 investments in total. The vehicle has already invested 20% of its capital, including a $150m commitment to Eaton Towers, a pan-African telecom tower development company. Eaton is part-owned by Development Partners International.