The Blackstone headquarters in New York, US, on Wednesday, July 17, 2024.
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Blackstone mentioned Tuesday it had raised $13.1 billion for its newest Asia non-public fairness fund, marking its largest PE fundraise within the area.
The choice asset supervisor mentioned that Blackstone Capital Companions Asia III exceeded its $10 billion goal, with the fund elevating greater than double the quantity of its predecessor automobile.
“Asia Pacific is the fastest-growing area on the planet, presenting compelling alternatives to speculate at scale behind our high-conviction themes,” Joe Baratta, international head of Blackstone Non-public Fairness Methods, mentioned in a press release.
Blackstone mentioned it has invested greater than $7 billion throughout 12 offers in Asia over the previous 24 months, reinforcing its presence in key markets together with India and Japan.
Current investments embody Indian AI cloud platform Neysa, Japanese engineering providers supplier TechnoPro and South Korean hair salon franchise JUNO.
The agency has additionally had 15 exits within the area as public markets get better, together with the listings of Worldwide Gemological Institute and Aadhar Housing Finance in India, in addition to the exit of Japan’s Alinamin Pharmaceutical.
The fundraising comes amid a lift in Asia-focused non-public capital exercise, and follows EQT’s current $15.6 billion Asia buyout fund increase.
Amit Dixit, Blackstone’s head of Asia non-public fairness, mentioned the agency’s “control-oriented technique” and regional scale has helped differentiate its funding method.
The non-public fairness trade has been grappling with more durable fundraising circumstances amid elevated rates of interest and geopolitical uncertainty, with capital raised by Asia-focused funds falling final 12 months to the bottom degree in additional than a decade, in response to Bain & Firm.
