HONG KONG Feb 1 RRJ Capital, a Hong Kong firm led by the Ong brothers, has raised $3.5 billion for its second fund, a source with knowledge of the matter told Reuters, making it the second-largest Asia-based private equity fund ever raised.
The Malaysia-born Ongs - Richard, formerly of Goldman Sachs Group Inc, and Charles, who worked for Temasek Holdings Pvt Ltd and Lazard - are two of the best-known dealmakers in Asia.
The firm has invested in U.S. energy companies FTS International and Cheniere Energy Inc, and China biotech firm Triplex Biosciences Company Ltd.
The fund is the second-largest Asia Pacific private equity fund raised, after the $4.1 billion raised by Australia's Pacific Equity Partners in 2008, according to data provider Preqin.
The firm expects to finalise the fund in early March, after setting out to raise $5 billion, the source said.