Asian private equity house Navis Capital Partners is reportedly nearing an imminent final close for its eighth flagship fund, as well as raising a new continuation vehicle.
Navis has been eyeing up to $1.9bn for Asia Fund VIII since it was launched in late 2018, and is set to formally close the vehicle later this week according to DealStreetAsia, although it did not say where the information came from.
AltAssets revealed in January that Navis had extended the close of its eighth flagship fund until April.
A new regulatory filing submitted by the firm shows that it is raising Navis Asia Continuation Fund, a naming convention often associated with buying up remaining assets from soon-to-expire funds.
Navis closed its 2013-vintage seventh fund on $1.5bn. DealStreetAsia also made mention of a Navis Asia Green Loop Fund which it said would be formally announced this week, but did not provide further details.
Earlier this month Navis sold its controlling interest in specialty chemical provider Amazon Papyrus to fellow buyout firm Longreach Group after sailing through the Covid-19 pandemic with strong performance.
The company was sold at a market valuation of about $200m, according to market sources spoken to by AltAssets.
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