Blackstone closes largest ever Asia private equity fundraise at $13.1 billion
New Delhi, June 2
,: 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.
"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.
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.
"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
Reader Comments
Impressive numbers, but let's be real - while Blackstone makes billions, affordable housing finance like Aadhar Housing is struggling with rising interest rates for end borrowers. Hope some of this capital trickles down to the common man rather than just fattening corporate coffers. Just my two paise!
Blackstone's track record in India is solid - they've backed winners like Aadhar Housing and exited well. The $7 billion deployed in Asia over 2 years including India shows confidence in our growth story. But I worry about our domestic PE firms getting sidelined. Need more Indian capital in this game!
As someone working in finance in Mumbai, this is exciting news! Blackstone's control-oriented approach actually helps transform companies - look at what they did with Alinamin in Japan. But one question: why are lab-grown diamonds and salon chains the highlight? What about manufacturing or deep tech? 🤔
Bhai, this is good news for the economy - more foreign investment means jobs and growth. But I'm slightly skeptical. Blackstone says they're "supporting business transformations" but ultimately they're in it for the returns. Hope Indian companies don't get asset-stripped like we've seen in some other PE cases. Time will tell!
The scale is mind-boggling - $13.1 billion! But what bothers me is that while such funds flow in, our SME sector still struggles for bank loans. Blackstone is betting on AI and luxury, but India's real story is in small businesses and manufacturing. I wish more focus was on that rather than just high
We welcome thoughtful discussions from our readers. Please keep comments respectful and on-topic.