September 2013 Vol. 18 No. 09
People getting pickier about value
By Paul Mackintosh – September 02, 2013
The recent closure of the second Asia Pacific fund of L Capital, the LVMH Group/ Groupe Arnault and YTL-backed luxury goods-focussed sector investor, at US$950 million, just six months after launch with only one close, seems a good opportunity to reflect on that entity and on sector funds in general in the region. And although claims that the second L Capital fund is the largest sector vehicle ever raised in the region look a little overblown in the light of China’s many industrial investment funds, to say nothing of the various infrastructure and real estate platforms raised in recent years, it certainly is one of the most conspicuous, and eye-catching
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