North Asia-focused private equity fund manager MBK Partners has reached a USD6.5b final close for its fifth buyout fund. The vehicle will target the consumer, retail, financial services, telecommunications, and media sectors in China, South Korea, and Japan. Over 80 LPs reportedly subscribed to the fund, including Teachers’ Retirement System of the State of Illinois, Los Angeles County Employees Retirement Association (LACERA), New Jersey State Investment Council, New York State Common Retirement Fund, New York State Teachers’ Retirement System (NYSTRS), San Francisco Employees’ Retirement System, and Virginia Retirement System. Read more