Blackstone firm
Blackstone Inc. has achieved a target of $ 10 billion for its latest Asia byout fund, as the investors are confident that its strong presence in India and its expansion in Japan will keep getting good returns. The world’s largest asset management company will complete the fund raising by the first quarter of next year. The New York based company is expected to reach a hard cap of $ 12.9 billion, which is the maximum limit mentioned in the marketing material.
According to the ET report, Blackstone attracted big investors after its second fund, who gave 41% returns by the second quarter and submitted about 80% funds, sources said. Asia II raised around $ 11 billion in 2021, including the commitments of other funds of Blackstone. This fund of Blackstone is taking place in a time when global investors are becoming more careful about private equity, because high interest rates, low stock listings and low secondary bioats are locked for a long time. Nevertheless, the largest alternative asset managers are also using their global rich, long track records and dedicated fundraging teams and are also attracting commitments in the tuff market.
These firms also got money
In the second byout firms, EQT AB has raised $ 11.4 billion for its ninth Asia Bayout Fund by July and plans to reach a hard cap of $ 14.5 billion in 2026. In February, sources reported that KKR & Company raised about 14 billion dollars before the first closing of its $ 20 billion North American Private Equity Fund, which shows Momentum in Tuff Market.
For Blackstone, about 90% of its previous Asian funds have returned to the new fund, and their average commitment has increased by about 30% from the previous fund, a source said. Blackstone began marketing his third Asian flagship fund in September 2024. According to an investor call on 24 July, it raised $ 3.5 billion in July, making the total 8 billion dollars. Hong Kong based spokesperson of Blackstone refused to comment. To avoid its first fund’s India-focused approach, Blackstone is planning to increase its stake in fund II by creating Japan as a main hub. Sources said that for the last two funds, 31% went to Capital India and 22% in Japan, while 9% came from Australia.