Hong Kong-based Baring Private Equity Asia (BPEA) has closed its eighth, and largest, pan-Asia fund at $11.2 billion, the firm said on Tuesday.
The final close, which exceeded BPEA’s $8.5 billion initial target and is 70% more than its previous fund, also made it one of the largest private equity funds ever raised in Asia, at a time of economic and political uncertainty.
A total of $97 billion was raised by Asia-focused private equity funds so far this year, compared with 2021’s full-year amount of $226 billion, according to data provider Preqin.
BPEA’s latest fund exceeded Blackstone’s $11 billion Asia fund raised in January, the data showed.
Read more: Reuters
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