This publication brings more news on developments around products and services in the Asia-Pacific wealth management industry.

Singapore-headquartered Oversea-Chinese Banking Corporation and its investment management subsidiary Lion Global Investors have completed fund-raising for a private fund focused on small and medium enterprise in Asia, according to Asia Asset Management.

The Lion-OCBC Capital Asia Fund I has raised S$550 million (around $390 million) for the nine months since late November 2014, up by nearly 40 per cent from the initial target, the publication said.

External investors can take part in the fund, the report said.

Lion Global Investors is a wholly-owned subsidiary of OCBC Bank; it is 70 per cent owned by Great Eastern Holdings and 30 per cent owned by Orient Holdings Private Limited.

A recent report on global private equity trends showed there is an increasing amount of uncommitted money – or “dry powder” – waiting to be put to work by private equity funds. According to figures up to the middle of this year, there was a total of $965 billion of uncalled capital, a situation that is reducing fund-raising activity (source: Preqin).