In the mid-1990s, SUN's emerging markets deal flow and investment opportunities significantly exceeded the Group's principal investment activities. As a result, SUN developed a series of specialised private fund/private equity themes and franchises, across three sectors.

• Russian private equity (SUN Capital Partners)
• Indian venture capital (WestBridge Ventures I, Sequoia Capital India II, Sequoia Capital India Growth Fund I and Sequoia Capital India III)
• Indian real estate private equity (SUN-Apollo India Real Estate Fund) 

The continued volume of attractive investment opportunities in SUN's core markets is leading to a significant scaling up of the Group's private equity investment activities across a series of sectors and geographies, including global emerging markets natural resources, emerging markets infrastructure, emerging markets clean technology and Russian real estate.