Ashmore Group is looking to raise at least $2.8bn (€1.76n) for its latest emerging markets private equity and distressed debt fund, after announcing $6bn asset growth for the year to June 30.

The emerging markets fund manager has taken $3bn in new subscriptions and made $2.9bn in returns on its investments over the last 12 months, boosting asset growth by 18.7%. It now manages $37.5bn.