Blackstone's Asia fundraise hits a record $13.1B, exceeding target.

Blackstone has closed its Asia private equity fund at a record $13.1 billion, surpassing its $10 billion target. The fundraise is the largest ever in the region for the asset manager and more than doubles the capital of its predecessor.

Blackstone has closed its fundraise for the Asia private equity fund at $13.1 billion, exceeding the target of $10 billion and making it the largest ever in the region for the alternative asset manager. The fundraise for Blackstone Capital Partners Asia III closed at more than double the amount of capital raised for its predecessor vehicle.

Record Fundraise and Regional Confidence

"This successful fundraise reflects the strength of our platform and our ability to perform through cycles," Joe Baratta, Global Head of Blackstone Private Equity Strategies, said. Baratta reposed faith in the opportunities presented by Asia Pacific and the ability of the investments to deliver value for the investors.

"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," added Baratta.

Active Investment and Exit Strategy

Over the last two years, Blackstone has invested actively in the region, including India and Japan, with $7 billion invested through 12 transactions, the company said. These investments include an Indian AI cloud platform Neysa, Japan's leading specialised engineering services provider TechnoPro and South Korea's salon franchise JUNO.

The firm has made 15 exits in the same period, including the listing of International Gemological Institute, the largest lab grown diamonds certification player and the listing of Aadhar Housing Finance, an affordable housing finance business. In Japan, the firm made a successful exit from Alinamin Pharmaceutical after helping build the business into one of Japan's leading consumer healthcare businesses.

Company's Differentiated Approach

"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," Amit Dixit, Head of Asia for Blackstone Private Equity, said.

Blackstone has over $1.3 trillion in assets under management, including global investment strategies focused on real estate, private equity, credit, infrastructure, life sciences, growth equity, secondaries and hedge funds. (ANI)

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