JBIC and Sumitomo Mitsui Trust to invest in CVC's $3 bln Asia fund

TOKYO, March 24 Sun Mar 23, 2014 10:18pm EDT

TOKYO, March 24 (Reuters) - Japan Bank for International Cooperation (JBIC) said on Monday it has agreed to invest up to $50 million in an Asian investment fund set up by CVC Capital Partners Ltd, which is seeking to raise $3 billion.

Sumitomo Mitsui Trust Bank Ltd has also agreed to invest up to $50 million in the fund, JBIC said in a statement.

The fund will invest in Asian companies outside Japan such as Indonesia, Malaysia, the Philippines and China, JBIC said. (Reporting by Taiga Uranaka)