Capital International closes sixth PE fund at $3 billion

Capital International has closed a $3 billion emerging markets private equity fund, with one-quarter of its investor base hailing from Asia, according to James McGuigan, managing partner for the firm’s PE funds. Capital International Private Equity Fund VI (CIPEF VI) took 15 months to meet its hard cap of $3 billion, exceeding its fundraising target of $2.5 billion, says McGuigan. It has a targeted 20% internal rate of return. About 90% of the investors in predecessor Fund V – w…