"AIGF is a platform that seeks to match the growing interest of Japanese corporates for Asean business opportunities," CIMB Group said in a statement today.
AIGF would source investors from a wide range of investors based in Japan including Hitachi Ltd, Yamato Kogyo Co Ltd and The Toho Bank Ltd, it said.
It said Shinsei Bank Ltd, a leading diversified Japanese financial institution, would join as a key strategic investor to the fund.
Kenny Lim, adviser to CIMB group chief executive officer, said the bank was optimistic that the regional economy would continue to demonstrate robust growth, leading to the continued rise of the middle class who would demand better products and services.
"These factors are the key drivers of our investment thesis for AIGF," he said.
CIMB said the fund would be managed by CIMB Private Equity and Mitsubishi while Development Bank of Japan Inc would join in as a member of the general partnership.
"The fund targets middle-market opportunities that are expected to benefit from urbanisation, industrialisation and improved infrastructure development, as well as the burgeoning demand for new and improved services," it said.