New York-based multi-strategy private equity investment firm Siguler Guff & Company has raised around US$650 million for its third BRIC (Brazil, Russia, India and China) opportunities fund, according to media reports.
The fund, named Siguler Guff BRIC Opportunities Fund III, will focus on high-growth opportunities within the emerging markets, looking for diversified portfolio fund investments and co-investments with a primary focus on Brazil, Russia, India and China.
"We seek to invest opportunistically within the emerging markets by exploiting areas of inefficiency and leveraging the high-growth characteristics of these regions," says Ralph Jaeger, managing director and portfolio manager of the firm’s emerging markets funds.
Founded in 1991, Siguler Guff has over US$10 billion of assets under management, with investors including more than 450 institutions and over 500 high net worth individuals.
According to the company’s website, its BRIC Opportunities Fund I raised US$610 million in 2005. Its BRIC Fund II raised US$893 million in 2007.
