Blackstone has raised its largest Asia private equity (PE) fund mopping up $13.1 billion from investors, according to an official release on Tuesday.The world’s largest asset manager has more than $50 billion invested in India.The latest Asia PE fund, Blackstone Capital Partners Asia (III), exceeded its fund raising target of $10 billion by a significant margin. The current fund also surpassed its predecessor Asia fund, raising more than twice the amount that the previous fund could collect.Also read: Blackstone pledges entire Mphasis stake to refinance loan“We are grateful for the continued trust of our investors in Blackstone and our leading Asia Private Equity franchise. This successful fundraise reflects the strength of our platform and our ability to perform through cycles,” said Joe Baratta, global head of Blackstone private equity strategies.“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,” Baratta said.Blackstone has been one of the most active global investors in the region over the last 24 months, reinforcing its leadership in India and Japan, according to the release.The firm attributed its success in the region to over “two decades of focus” building businesses into market leaders.Also read: Anthropic nears $1 trillion valuation, zooms past OpenAI after latest funding round“We believe our differentiation lies in our scale, supported by homegrown teams across the region’s major markets; strong performance; and our control-oriented strategy that enables us to have a hands-on, proactive approach to supporting business transformations,” said Amit Dixit, head of Asia for Blackstone private equity.Blackstone’s over $1.3 trillion in assets under management include global investment strategies focused on real estate, private equity, credit, infrastructure, life sciences, growth equity, secondaries and hedge funds.
Blackstone raises its largest Asia PE fund; mops up $13.1 billion
Blackstone has successfully raised its largest Asia private equity fund, securing $13.1 billion. This significant achievement surpasses their initial target and their previous fund's collection. The asset manager, with over $50 billion invested in India, highlights the Asia Pacific region's growth potential. Blackstone's extensive experience and hands-on strategy are key to their success in building market leaders across the region.
TL;DRAI
Blackstone raised $13.1B for Asia PE fund III, 31% above the $10B target and double its predecessor. The result shows institutional appetite for Asia-Pacific tech transformation and backs PE's control strategy for scaling enterprise IT in India and Southeast Asia.
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