India, May 27 -- Multiples Alternate Asset Management (Multiples) has marked close of its $430 Mn (INR 3,670.62 Cr) continuation fund in one of India's largest-ever portfolio transactions in private equity space.

According to the firm, the deal was "oversubscribed" and was led by four global institutional investors - HarbourVest Partners, Hamilton Lane, LGT Capital Partners and TPG NewQuest.

A continuation fund is an investment vehicle which is designed to increase the holding period of assets in an existing fund which is approaching the end of its lifecycle. Besides, it also allows general partners (GPs) to maintain control over promising assets and allow limited partners (LPs) an opportunity to liquidate their investment.

The transac...