Private equity investment manager Lombard Investments has announced a final close on its fourth Asia fund, Lombard Asia IV, hard-capped at US$350 million. The oversubscribed fund reached a first close in September 2012 with US$200 million in capital commitments. Investors in the fund, which will largely focus on growth capital or buyout investments in Thailand, include Overseas Private Investment Corporation and International Finance Corporation. Lombard is also in the process of exiting investments from its third Asia fund, Lombard Asia III, a US$234 million vehicle that closed in 2007. Recently, the firm exited Taiwan-based auto parts manufacturer San Shing Fastech, realizing approximately US$40 million on its US$15 million investment for a reported return multiple of 2.6x.