Asia Alternatives Management
Fund of fundsHong Kong · Seed–Late Stage · 2 people tracked
Investment thesis
Asia Alternatives operates as a dedicated Asia-focused private equity funds-of-funds platform, committing capital to top-performing fund managers across the region. Its strategy targets Greater China (Mainland China, Taiwan, Hong Kong), Japan, Korea, Southeast Asia, India and Australia, and is diversified across buyout, growth and expansion, venture capital and special situations funds. Through a series of vehicles (AACP I through VI) it applies a consistent risk-adjusted return strategy on behalf of institutional investors seeking exposure to Asian private markets.
Source: firm website, verified Aug 7, 2026.
Team · 2 people
from the firm's websiteFund performance · per public LP disclosures · 15
as of Jun 2025| Fund | Vintage | Committed | Net IRR | TVPI | DPI |
|---|---|---|---|---|---|
| Asia Alternatives FL Investor IV, LPLPs: Florida State Board of Administration | 2024 | — | -12.2% | 0.90x | 0.00x |
| Asia Alternatives FL Investor III LPLPs: Florida State Board of Administration | 2020 | — | 8.1% | 1.20x | 0.14x |
| Asia Alternatives Capital Partners VLPs: Minnesota State Board of Investment, Pennsylvania Public School Employees' Retirement System | 2017 | — | 6.3% | 1.29x | 0.35x |
| Asia Alternatives FL Investor II LPLPs: Florida State Board of Administration | 2017 | — | 6.9% | 1.32x | 0.31x |
| Asia Alternatives FL Investor Il LPLPs: Florida State Board of Administration | 2017 | — | 11.7% | 1.33x | 0.09x |
| Asia Alternatives Capital Partners IV, LPLPs: Empire State Development – New York Ventures, Annie E. Casey Foundation | 2014 | — | — | 1.60x | 0.76x |
| Asia Alternatives FL Investor LPLPs: Florida State Board of Administration | 2014 | — | 8.4% | 1.57x | 0.90x |
| Asia Alternatives Capital Partners IIILPs: Empire State Development – New York Ventures, Pennsylvania Public School Employees' Retirement System | 2011 | — | — | 1.67x | 1.38x |
| Asia Alternatives Korea Buyout Investors (Hahn & Co)LPs: Pennsylvania Public School Employees' Retirement System | 2011 | — | 9.3% | 1.50x | 1.42x |
| AACP India Investors CLPs: California Public Employees' Retirement System | 2009 | — | -1.5% | 0.89x | 0.45x |
| AACP China Debt Investors, LPLPs: California Public Employees' Retirement System | 2008 | — | 8.3% | 1.27x | 1.27x |
| Asia Alternatives Capital Partners IILPs: Empire State Development – New York Ventures, California Public Employees' Retirement System, Pennsylvania Public School Employees' Retirement System | 2008 | — | 16.7% | 2.51x | 2.46x |
| AACP AP Investors, L.P.LPs: California Public Employees' Retirement System | 2007 | — | 2.0% | 1.13x | 1.13x |
| AACP India Investors BLPs: California Public Employees' Retirement System | 2007 | — | 12.8% | 4.00x | 3.89x |
| Asia Alternatives Capital PartnersLPs: California Public Employees' Retirement System, Pennsylvania Public School Employees' Retirement System, Surdna Foundation Inc | 2007 | — | 11.0% | 1.79x | 1.77x |
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 Seed, Series A, Series B, Growth, Late Stage stages.
- 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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