Private equity firm Actis has raised US$2.9 billion (£1.9 billion) to invest in emerging markets, exceeding its target of $2.5 billion.

Private equity firm Actis has raised US$2.9 billion (£1.9 billion) to invest in emerging markets, exceeding its target of $2.5 billion.

Actis Emerging Markets 3 will be invested in buy-outs or growth capital deals in 30 to 40 companies across Africa, China, India, Latin America and South East Asia.

Russia and Eastern Europe, often included in emerging markets funds, are excluded from the list of target regions.

Paul Fletcher, senior partner at London-based Actis, believes underlying economic growth remains resilient in many of the emerging markets.

He adds, ‘Much of this growth can be linked to businesses benefiting from consumer demand and increased investment in domestic infrastructure.’