EQT launches $12.5bn Asia private equity fund

• EQT has launched Baring Private Equity Asia Fund IX (BPEA IX) with a target size of $12.5bn.

• The target is an 11.6% increase on its predecessor fund, which closed on $11.2bn in 2022, 31.8% above its target of $8.5bn.

• BPEA IX will be invested in buyouts across a wide range of sizes, with equity checks between $50mn and $1bn.

• It is the first pan-Asia fund launched by the GP since the combination of EQT and Baring Private Equity Asia in October 2022.

August 16, 2024 (Preqin News) – Regional funds are driving private equity fundraising in APAC, following a notable decline in China-focused funds. China-focused private equity vehicles accounted for 55.3% ($78.4bn) of the private equity capital raised in APAC ($141.8bn) in 2021, but just 8.7% ($2.3bn) of the funds raised in H1 2024.

Most of the capital raised in the first half of 2024 went to regional private equity funds (52.9%), with funds focused on Japan (21.3%) and India (11.8%) the largest individual country funds.

Despite a slowdown in fundraising for China, private equity fundraising is on track to surpass the $47.9bn raised in 2023, with $26.3bn of capital raised in the first half of the year, according to APAC Q2 2024: Preqin Quarterly Update.

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