Debevoise & Plimpton has advised Hong Kong-based buyout firm Baring Private Equity Asia on closing a $4 billion Asia-focused fund, the second-largest since Kohlberg Kravis Roberts’s $6 billion 2013 Asia fund.

Launched last June, the fund will continue targeting Asian companies and European and North American companies with growth plans in Asia. The fund, Baring’s sixth, is 60 percent larger than its last one, which closed in 2011.