Blackstone raises US$13.1 billion for its largest Asia private equity fund
Asian markets which offer a steady pipeline of buyout and growth opportunities, have been a major focus for global asset managers
Add BT as a preferred source
[MEXICO CITY] Alternative asset manager Blackstone said on Tuesday (Jun 2) that it has raised US$13.1 billion for its Asia private equity fund, exceeding its initial target and marking its largest such fundraise in the region.
The fundraising reflects strong investor interest in Asia despite global volatility fuelled by the Iran crisis, and comes a month after Sweden-based EQT raised US$15.6 billion to create the region’s largest private equity fund.
Blackstone, which was targeting US$10 billion for the fund named Blackstone Capital Partners Asia III, said that it has raised more than double the amount of its previous vehicle.
Global institutional and high-net-worth investors have looked to diversify from the US due to high valuations, inflation risks and overall geopolitical uncertainty.
Asian markets such as Japan and India, which offer a steady pipeline of buyout and growth opportunities, have been a major focus for global asset managers.
“Asia Pacific is the fastest-growing region in the world, presenting compelling opportunities to invest at scale behind our high-conviction themes and deliver for our investors,” said Joe Baratta, global head of Blackstone Private Equity Strategies.
Bain Capital has raised about US$10.5 billion in its sixth pan-Asia buyout fund while KKR, which held the previous record in a US$15 billion pan-Asia fund raised in 2021, is in the market to raise US$15 billion for its next such vehicle, Reuters has reported.
Over the last two years, Blackstone has invested more than US$7 billion in 12 deals in India and Japan, including companies such as Indian AI cloud platform Neysa and Japan’s engineering services provider TechnoPro.
The asset manager firm also exited 15 companies during the period, including through the listings of International Gemological Institute and Aadhar Housing Finance. REUTERS
Decoding Asia newsletter: your guide to navigating Asia in a new global order. Sign up here to get Decoding Asia newsletter. Delivered to your inbox. Free.
Share with us your feedback on BT's products and services
TRENDING NOW
‘Capital guaranteed’ label for investment-linked policies misleading: MAS, Life Insurance Association
Rising land bids push new condo prices into focus – will S$3,000 psf be a new normal?
Battle for Asia’s ultra-rich: ‘Singapore can’t afford to keep losing clients to Dubai, Hong Kong’
DBS, OCBC at fresh highs as Singapore banks lead STI gains
