Blackstone seeks more than US$10 billion in new Asia buyout fund
It expects India and Japan to be the most active markets in Asia, the firm’s global head of private equity says
BLACKSTONE plans to raise more than US$10 billion in its third Asia private equity fund, as the company ramps up deployment in Japan and India, sources said.
The New York-based money manager started marketing the fund in mid-September and plans to have its first closing in January, they added, asking not to be identified because the matter is not public.
The company is eyeing a pool on a par with the US$11 billion it raised in 2022.
The plan comes on the heels of an aggressive raise by EQT, which is raising US$12.5 billion for its next regional fund – one of the biggest pools of private equity in Asia.
Companies have been zeroing in on economies that offer transparency and regulatory certainty, as they in recent years seek giant piles of money to put to work. Meanwhile, they are also taking a harder look at China’s rising economic and geopolitical risks.
A Blackstone spokesperson declined to comment.
India and Japan are expected to be the most active markets in Asia, Blackstone’s global head of private equity Joe Baratta has said.
It holds about US$50 billion worth of private equity investments and real estate in India, and has been active in Japan, Australia and South-east Asia, Amit Dixit, the firm’s head of private equity for the region, previously noted.
Blackstone and other global asset managers also tout Japan as their next big opportunity, as the country opens its economy to more financial players, and the market is not as crowded as the US or Europe, Blackstone president Jon Gray said last month. BLOOMBERG
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