Blackstone raising up to US$3b in its first Asia PE fund

Hong Kong

BLACKSTONE Group LP is seeking to raise up to US$3 billion in its first pan-Asia buyout fund for investments in sectors including high-end manufacturing and healthcare, people familiar with the plan told Reuters.

The New York-based firm has informed its limited partners about the plan and it aims to lock in the first tranche of investment for the fund by the end of 2017, according to the people.