The oversubscribed vehicle for portfolio company Imaging Associates reportedly includes a simultaneous merger with an industry peer.
The CV would reportedly acquire ByteDance and Ant Group stakes at a roughly 30% discount to their combined $1.5 billion NAV.
The continuation fund will reportedly have its largest exposure to TikTok's parent, ByteDance, alongside Ant Group.
The oversubscribed vehicle for the mass transit operator was backed by Australian superannuation funds and international institutional investors.
The multi-strategy investment firm is reportedly considering a $350-400 million CV for four portfolio companies.
The oversubscribed vehicle rolled over a portfolio of investments made between 2015 and 2021.
The vehicle will acquire New Zealand's largest egg supplier from the firm's 2013-vintage LBO fund, Navis Asia Fund VII.
Anchored by a stake in TikTok parent ByteDance, the multi-asset CV reportedly drew backing from Abu Dhabi's Lunate, among others.
In parallel, the firm's stakes in industrial gas supplier AirFirst will reportedly move into the open-ended fund via a continuation fund structure.
The oversubscribed vehicle received additional participation from CSSC Insurance, Wuxi Venture Capital, Boyuan Capital, and Huikai Investment.
