Asian private equity fund of funds Asia Alternatives Management has held a final close with more than US$1.8 billion in commitments for Asia Alternatives Capital Partners IV (AACP IV) and its related fund vehicles (collectively Fund IV). AACP IV—the largest of the funds–along with its sleeve fund AACP IV Ex-Japan Investors, focused on investments outside of Japan, accounted for US$1 billion of the capital commitments. Additionally, Fund IV raised US$800 million for separately managed accounts. The fund attracted approximately 150 investors, including state and corporate pension funds, foundations, university endowments, insurance companies and family offices in the United States, Canada, Europe and Asia.