Asia Alternatives Management Llc
SEC-registered
Private Fund Manager · Large ($10B–$100B)
CRD 141481
· SEC file 801-67258
· San Francisco, CA
· WWW.ASIAALT.COM
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ADV data as of Jul 29, 2026
- Regulatory AUM
- $13.2B
- Discretionary
- $13.2B
- Clients
- 158
- Avg AUM / client
- $83.8M
- Accounts
- 158
- Employees
- 47
AUM over time
$3.4B
$16.6B
Dec 2011
Jul 2026
Annual snapshots from Form ADV filings · as of Jul 29, 2026
Who they serve
| Client type | Clients | AUM | % of AUM |
|---|---|---|---|
| Pooled investment vehicles (non-investment companies) | 158 | $13.2B | 100.0% |
Private funds (121)
View all →Reported in Form ADV Section 7.B.(1), filing of Mar 2024 · $10.7B combined gross assets
| Fund | Type | Domicile | Gross assets | Owners |
|---|---|---|---|---|
| Asia Alternatives Capital Partners V, Lp master | Private Equity Fund | Delaware | $1.4B | 243 |
| Asia Alternatives Capital Partners Iv, Lp master | Private Equity Fund | Delaware | $1.2B | 169 |
| San Francisco Asia Investors, L.P. | Private Equity Fund | Delaware | $595M | 2 |
| Asia Alternatives Capital Partners Iii, Lp master | Private Equity Fund | Delaware | $493M | 120 |
| Asia Alternatives Ivory Partners Iii, L.P. | Private Equity Fund | Cayman Islands | $425M | 2 |
| New Jersey Asia Investors Iii, Lp | Private Equity Fund | Delaware | $343M | 2 |
| Asia Alternatives Fl Investor Ii, Lp | Private Equity Fund | Delaware | $326M | 2 |
| Asia Alternatives Capital Partners Vi, Lp master | Private Equity Fund | Delaware | $316M | 120 |
| New York Co Investment Pool Asia Investors Ii, Lp | Private Equity Fund | Delaware | $290M | 2 |
| New York Balanced Pool Asia Investors Ii, Lp | Private Equity Fund | Delaware | $272M | 2 |
| Il Asia Investors, Lp | Private Equity Fund | Delaware | $265M | 2 |
| Virginia Asia Investors Ii, Lp | Private Equity Fund | Delaware | $261M | 2 |
| Md Asia Investors Iii, Lp | Private Equity Fund | Delaware | $251M | 2 |
| Hessen Doctors Asia Investors, L.P. | Private Equity Fund | Cayman Islands | $241M | 2 |
| Asia Alternatives Fl Investor, Lp | Private Equity Fund | Delaware | $223M | 2 |
Retirement plan clients
Plans that reported this firm as an investment service provider on Form 5500 Schedule C.
| Plan | Location | Plan year |
|---|---|---|
| International Painters And Allied Trades Industry Pension Plan Intl Painters & Allied Trades Ind. Pension Fund Board Of Trustees | 2024 | |
| Aarp Employees' Pension Plan Aarp | Washington, DC | 2024 |
| Intermountain Healthcare Pension Plan Intermountain Health Care, Inc. | 2024 |
People (6)
| Name | Role / title | Credentials | With firm since | Ownership |
|---|---|---|---|---|
| Ma, Melissa, Jasmine | Manager, Member | Mar 2006 (20y) | ≈ 18.75% – 50% via Asia Alternatives Principals, Lp | |
| Xu, Hongjiang | Manager, Member | Mar 2006 (20y) | ≈ 18.75% – 50% via Asia Alternatives Principals, Lp | |
| Yasuda, Akihiko | Manager, Member | Apr 2008 (18y) | GP / trustee / elected manager of Asia Alternatives Principals, Lp (indirect) | |
| Dashiell, Daniel, Tyndall | Chief Legal Officer/Chief Compliance Officer | Jul 2019 (7y) | Less than 5% | |
| Garg, Praneet | Manager, Member | Jan 2020 (7y) | GP / trustee / elected manager of Asia Alternatives Principals, Lp (indirect) | |
| Delacruz, Jeanette | Chief Financial Officer | Mar 2022 (4y) | Less than 5% |
Entity owners (Schedule A/B)
| Entity | Title / status | Since | Sch. | Ownership |
|---|---|---|---|---|
| Asia Alternatives Principals, Lp | Member | Mar 2006 | A | 75% or more |
Undisclosed: 0% – 25% of the firm is not attributable from the filed Schedule A bands.
Estimated effective ownership (look-through of filed bands):
- Ma, Melissa, Jasmine: 25% – 50% of Asia Alternatives Principals, Lp × 75% – 100% direct ≈ 18.75% – 50% of the firm
- Xu, Hongjiang: 25% – 50% of Asia Alternatives Principals, Lp × 75% – 100% direct ≈ 18.75% – 50% of the firm
Roster from the IAPD representatives feed; ownership and acquisition dates from Form ADV Schedule A/B. "Since" is the earliest filed registration or acquisition date.
Private funds (121, $10.7B gross assets)
| Fund | Type | Gross assets | Min. investment | Owners |
|---|---|---|---|---|
| Asia Alternatives Capital Partners V, Lp | Private Equity Fund | $1.4B | $44.8K | 243 |
| Asia Alternatives Capital Partners Iv, Lp | Private Equity Fund | $1.2B | $43.6K | 169 |
| San Francisco Asia Investors, L.P. | Private Equity Fund | $595M | $794M | 2 |
| Asia Alternatives Capital Partners Iii, Lp | Private Equity Fund | $493M | $46.7K | 120 |
| Asia Alternatives Ivory Partners Iii, L.P. | Private Equity Fund | $425M | $500M | 2 |
| New Jersey Asia Investors Iii, Lp | Private Equity Fund | $343M | $300M | 2 |
| Asia Alternatives Fl Investor Ii, Lp | Private Equity Fund | $326M | $267M | 2 |
| Asia Alternatives Capital Partners Vi, Lp | Private Equity Fund | $316M | $94.6K | 120 |
| New York Co Investment Pool Asia Investors Ii, Lp | Private Equity Fund | $290M | $250M | 2 |
| New York Balanced Pool Asia Investors Ii, Lp | Private Equity Fund | $272M | $193M | 2 |
| Il Asia Investors, Lp | Private Equity Fund | $265M | $196M | 2 |
| Virginia Asia Investors Ii, Lp | Private Equity Fund | $261M | $219M | 2 |
| Md Asia Investors Iii, Lp | Private Equity Fund | $251M | $212M | 2 |
| Hessen Doctors Asia Investors, L.P. | Private Equity Fund | $241M | $285M | 2 |
| Asia Alternatives Fl Investor, Lp | Private Equity Fund | $223M | $176M | 2 |
| Md Asia Investors Ii, Lp | Private Equity Fund | $223M | $195M | 2 |
| New York Balanced Pool Asia Investors Iii, Lp | Private Equity Fund | $218M | $200M | 2 |
| Asia Alternatives Capital Partners V (Erisa), Lp | Private Equity Fund | $209M | $2.7M | 18 |
| New York Co Investment Pool Asia Investors Iii, Lp | Private Equity Fund | $204M | $300M | 2 |
| Arcadia Asia Investors, Lp | Private Equity Fund | $187M | $23.9M | 3 |
| Virginia Asia Investors, Lp | Private Equity Fund | $179M | $160M | 2 |
| Asia Alternatives Delaware V, Lp | Private Equity Fund | $164M | $5.2K | 243 |
| Ng Asia Investors, L.P. | Private Equity Fund | $151M | $150M | 2 |
| Asia Alternatives Fl Investor Iii, Lp | Private Equity Fund | $149M | $303M | 2 |
| Sbs Asia I Investors, Lp | Private Equity Fund | $124M | $115M | 2 |
Top 25 of 121 funds by gross assets · all funds
From Form ADV Section 7.B private fund reporting.
Retirement plans served (3)
| Plan | Sponsor | Participants | Plan assets | As of |
|---|---|---|---|---|
| International Painters And Allied Trades Industry Pension Plan | Intl Painters & Allied Trades Ind. Pension Fund Board Of Trustees | 43,757 | $4.5B | 01/01/2024 |
| Aarp Employees' Pension Plan | Aarp | 2,180 | $1.6B | 01/01/2024 |
| Intermountain Healthcare Pension Plan | Intermountain Health Care, Inc. | 25,307 | $3.4B | 01/01/2024 |
From Form 5500 service-provider disclosures.
Documents (1 archived)
| Form | Period | Size | |
|---|---|---|---|
| Form ADV (full filing) | 03/31/2026 | 28.5 MB | View · PDF · Source ↗ |
Archived copies of the firm's regulatory filings, versioned by content hash.
Disciplinary disclosures
No disciplinary events reported on the firm's latest Form ADV filing.
How they charge
- • Percentage of assets under management
- • Performance-based fees
Services
- • Portfolio management for pooled investment vehicles
Custody
Firm reports having custody of client funds or securities (Item 9.A).
No custodian data reported or mined yet.
Source
All data on this page comes from this firm's Form ADV filings, reproduced without modification. Latest filing: Jul 29, 2026.
View current Form ADV (SEC/IAPD) ↗