Baring Private Equity raises $11.2b in one of Asia’s largest buyout funds

Hong Kong-based Baring Private Equity Asia (BPEA) has closed its eighth pan-Asia fund at $11.2b, its largest, the firm said on Tuesday

The final close, which exceeded BPEA’s $8.5b initial target and is 70% more than its previous fund, also made it one of the largest private equity funds ever raised in Asia.

The fundraising closed amid global macroeconomic and geopolitical uncertainties that have made it a challenging time for investment managers.

As of Sept. 2, a total of $82b was raised by Asia-focused private equity funds, compared with 2021’s full-year amount of $226b, according to data provider Preqin.

Get the week’s top news delivered directly to your inbox – Sign up for our newsletter

Founded by Chilean dealmaker Jean Salata in 1997, BPEA has made over 100 investments and achieved $18b in realised capital over the years, according to its website.

The firm agreed in March to merge with Sweden-based peer EQT AB in a cash and shares deal worth €6.8b. Salata will continue to lead the Asia business after the merger is completed.

The transaction is expected to close in the fourth quarter, BPEA said in Tuesday’s statement.

The latest fund attracted over 180 investors, including over 70 new investors, said a person with direct knowledge of the matter.

Existing investors committed approximately 1.3 times the commitments to the new fund compared with the previous fund, the person added.

Source: Cna

Can’t stop reading? Read more