Asia-focused direct secondaries fund manager NewQuest Capital has reached a final close for NewQuest Asia Fund IV with USD1 billion in commitments. Investors in the fund include endowments, pension funds, sovereign wealth funds, insurance companies, financial institutions, and family offices across Asia, North America, Europe, and the Middle East. In addition to providing liquidity solutions to private equity asset owners through portfolio and single-asset transactions, the fund will also partner with incumbent managers to support fund restructurings and spinouts.