Crédit Agricole, the French banking group, has made a step into Asian private equity by raising funds worth almost $1.4bn (€1.1bn) via Crédit Lyonnais Securities Asia, its regional investment banking and brokerage arm.

French newspaper La Tribune reports that the money will be invested via four separate funds. The largest, Fudo Capital, will run $430m and invest principally in real estate-based ventures.