Global alternative asset manager Blackstone has raised an Asia-focused investment fund worth $13.1 billion (about 19.857 trillion won).
Blackstone announced Tuesday that it had completed the final close of its Capital Partners Asia III fund at $13.1 billion. The original target was $10 billion, but demand from limited partners (LPs) was strong. The fund is more than double the size of its predecessor and the largest pool Blackstone has ever raised for investments in the Asia region.
Blackstone manages more than $1.3 trillion in total assets under management (AUM), spanning real estate, private equity (PE), infrastructure, life sciences, growth investing, credit, real assets, secondaries and hedge fund investments.
"This fund close demonstrates the strength of the Blackstone platform and our ability to execute through any market environment," said Joseph Baratta, Blackstone's global head of PE strategies. "The Asia-Pacific market presents attractive opportunities to deploy capital at scale and deliver returns that meet investor expectations." Amit Dixit, Blackstone's head of Asia PE, said, "Our scale of capital, track record and active engagement in management have differentiated Blackstone."
Blackstone has invested more than $7 billion across 12 deals in Asia over the past two years. The firm recently acquired control of Korean hair salon chain Junoheir and invested in Japanese engineering services company TechnoPro. In India, it invested in AI cloud platform Neysa. During the same period, Blackstone completed 15 exits. Notable exits include IGI, the world's largest grading institution for lab-grown diamonds; Aadhar Housing Finance, India's largest affordable housing finance company; and Japan's Alinamin Pharmaceutical.
