Hong Kong · Seed–Late Stage · 2 people tracked
Investment thesis
Asia Alternatives commits capital to top-performing private equity fund managers across Asia, with a focus on Greater China (Mainland China, Taiwan, Hong Kong), Japan, Korea, Southeast Asia, India and Australia. The firm builds diversified portfolios spanning buyout, growth and expansion, venture capital and special situations funds through a series of Asia-dedicated fund-of-funds vehicles. Its approach centers on delivering strong risk-adjusted returns for institutional investors, a strategy consistently deployed across its successive AACP fund families.
Source: firm website, verified Aug 25, 2026.
Team · 2 people
from the firm's website
Fund 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, Series C, 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.
Similar investors
Insight Partners is an investment firm focused on accelerating revenue and profit growth in software companies, providing capital and operational support through its Insight Onsite team.
New Enterprise Associates (NEA) is a venture capital firm that invests in and provides long-term support to founders building new companies.
Partech is a global investment firm that backs founders across multiple continents and at every stage through dedicated teams and funds.
ATEL Ventures is the venture debt arm of ATEL Capital Group, which owns and manages a portfolio of leased equipment, loans to high-growth companies, and real estate. It lends growth capital to high-growth businesses across sectors and stages.