Singapore-based private equity firms Capital Square Partners (CSP) and Basil Technology Partners (BTP) have closed a $700-million fund, according to an announcement on Friday.
The transaction involved a hybrid of primary, secondary and continuation fund elements from Capital Square and Basil Technology’s previous funds, making it a complex and bespoke deal to execute. It is also said to be one of the largest funds dedicated to technology services in Asia.
The fund, dubbed “CSP Fund II”, raised capital from HarbourVest Partners, TPG NewQuest, Committed Advisors, and other institutional investors. HarbourVest and TPG NewQuest co-led the deal. HarbourVest led the structuring of the transaction. UBS Private Funds Group advised the transaction.
