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Asia Alternatives Management

Fund of fundsoperating company · company profile

Hong Kong · Growth · 27 people tracked

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Investment thesis

Asia Alternatives is a solution platform helping institutional investors build Asia private equity programs through a dedicated fund-of-funds strategy. It focuses on two principles: generating risk-adjusted, alpha-producing returns, and partnering closely with LPs to provide Asian PE education, access to managers, and co-investment opportunities. The firm diversifies across Greater China, Japan, Korea, Southeast Asia, Australia and India, and across buyout, growth and expansion, venture capital, and special-situation strategies. It also pursues value-add activities including sponsoring and anchoring new funds, direct co-investments, and secondaries. A longstanding LP Partnership Program offers education, GP access, co-investment, and transparent reporting, supported by its on-the-ground local Asian teams.

Source: firm website, verified Oct 5, 2026.

Stage
Growth
HQ
Hong Kong, HK
Instruments
Equity
Founded
2005
AUM
$13.2B

Team · 27 people

from the firm's website & public directories
Laure Wang· Co-Founder
Thomas Racky· Managing Director, Asia Alternatives Europe GmbH, Frankfurtin
York Hosak· Managing Director, Asia Alternatives Europe GmbH, Frankfurt
Catherine Liu· Principal
Claire Lu· Principal
Ivy Ren· Director
Jingyi Song· Principal
Kenta Niimi· Principal
Lilium Li· Principal
Rahul Surana· Directorin
Devaansh Mehrotra· Investment Analyst
Erin Qin· Investment Analyst
Hailey Zhou· Investment Associate
Jianing Zhang· Senior Counselin
Joon Oh· Investment Analyst
Kenji Murakami· Investment Analystin
Kyungmin Min· Investment Associate
Raghav Mahajan· Investment Analystin
Jin Gu· Executive Officer

Fund performance · per public LP disclosures · 15

as of Jun 2025
FundVintageCommittedNet IRRTVPIDPI
Asia Alternatives FL Investor IV, LPLPs: Florida State Board of Administration2024—-12.2%0.90x0.00x
Asia Alternatives FL Investor III LPLPs: Florida State Board of Administration2020—8.1%1.20x0.14x
Asia Alternatives Capital Partners VLPs: Minnesota State Board of Investment, Pennsylvania Public School Employees' Retirement System2017—6.3%1.29x0.35x
Asia Alternatives FL Investor II LPLPs: Florida State Board of Administration2017—6.9%1.32x0.31x
Asia Alternatives FL Investor Il LPLPs: Florida State Board of Administration2017—11.7%1.33x0.09x
Asia Alternatives Capital Partners IV, LPLPs: Empire State Development – New York Ventures, Annie E. Casey Foundation2014——1.60x0.76x
Asia Alternatives FL Investor LPLPs: Florida State Board of Administration2014—8.4%1.57x0.90x
Asia Alternatives Capital Partners IIILPs: Empire State Development – New York Ventures, Pennsylvania Public School Employees' Retirement System2011——1.67x1.38x
Asia Alternatives Korea Buyout Investors (Hahn & Co)LPs: Pennsylvania Public School Employees' Retirement System2011—9.3%1.50x1.42x
AACP India Investors CLPs: California Public Employees' Retirement System2009—-1.5%0.89x0.45x
AACP China Debt Investors, LPLPs: California Public Employees' Retirement System2008—8.3%1.27x1.27x
Asia Alternatives Capital Partners IILPs: Empire State Development – New York Ventures, California Public Employees' Retirement System, Pennsylvania Public School Employees' Retirement System2008—16.7%2.51x2.46x
AACP AP Investors, L.P.LPs: California Public Employees' Retirement System2007—2.0%1.13x1.13x
AACP India Investors BLPs: California Public Employees' Retirement System2007—12.8%4.00x3.89x
Asia Alternatives Capital PartnersLPs: California Public Employees' Retirement System, Pennsylvania Public School Employees' Retirement System, Surdna Foundation Inc2007—11.0%1.79x1.77x

Source: public limited-partner disclosures (CalPERS, CalSTRS). Net IRR / TVPI / DPI as reported by the limited partner; a fund's early-year IRR is an interim estimate (J-curve).

Frequently asked questions

What stage does Asia Alternatives Management invest at?
Asia Alternatives Management invests at the Growth stage.
What sectors does Asia Alternatives Management focus on?
Asia Alternatives Management focuses on Sector Agnostic.
Where is Asia Alternatives Management located?
Asia Alternatives Management is headquartered in Hong Kong, HK.

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