Prudential's investment

Prudential's investment

SINGAPORE (AFP): Prudential Asia Investments Ltd., the
investment arm of Prudential Insurance Co. of America, said
yesterday it has raised US$261 million for private equity
investment in the Asia-Pacific region.

The Prudential Asia Private Equity Ltd. Fund would be used to
purchase stakes in private enterprises in Hong Kong, China,
Taiwan, Singapore, Malaysia, Thailand, Indonesia, the
Philippines, Japan and Australia, officials said.

"It is gratifying to see the increasing trend in private
equity investments in the region," said Victor Fung, chairman of
Prudential Asia Investments. Subsidiary Prudential Asset
Management Asia Ltd. (PAMA) is to manage the fund.

Fung said Prudential Insurance Co. had committed an additional
50 million dollars to be invested in parallel with the fund,
supplementing the 500 million dollars the parent company had
committed to Prudential Asia for private equity investments.