IFC had recently proposed to invest up to $40m in the fund.
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The fund will provide senior secured loans to small- to mid-sized corporates across APAC.
The USD and RMB InnoVen China Fund II is aiming for a final close early next year.
Six of Canada’s biggest pension funds managing $965.47b in assets have begun a major expansion into private credit.
FundPark has received an additional $250m from Goldman Sachs.
The firm is looking to do more deals from its Singapore office launched in 2022.
BlackRock has been looking at new economy sectors in Indonesia and manufacturing and real estate opportunities in Vietnam.
The firm had recruited Jeffrey Lau to lead its credit investments team in 2022.
ASLF III–Elkhorn will invest in SMEs in emerging markets in Asia.
KKR’s pan-Asian private credit strategies have deployed nearly $4b to date.