NewQuest Capital Partners, an APAC-focused secondaries platform owned by global asset manager TPG, has led a €422m fundraising for a logistics vehicle managed by Hidden Hill Capital, the GLP-backed Chinese private equity manager.
GLP 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 “high quality and innovative” companies.
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The fund will invest in modern logistics and supply chain ecosystems in China and Asia.
“The successful fundraise, which closed above the fundraising target in a matter of six months, is a strong vote of confidence from our investors,” said Higashi Michihiro, managing partner of Hidden Hill.
Teresa Zhuge, executive vice chairman of GLP China, said: “Hidden Hill invests in companies that leverage the strength of GLP’s logistics ecosystem and are taking part in the global energy transition.”
Source: Real Assets IPE
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