EQT has closed its BPEA IX fund at $15.6bn, marking the largest Asia Pacific-focused private equity fund ever raised.

The fund was oversubscribed and attracted a globally diversified investor base, including strong participation from pension funds and sovereign wealth funds, with more than 75 new investors joining the platform.

The raise comes amid a challenging fundraising environment in Asia, where capital raised declined to a 12-year low in 2025.

BPEA IX will focus on control investments in leading companies across high-growth sectors such as technology, healthcare, industrial technology, and services, targeting businesses positioned to benefit from long-term structural trends.

The fund builds on EQT’s integration with Baring Private Equity Asia, combining deep regional expertise with global sector capabilities and operational resources. 

EQT’s Asia platform has deployed approximately $30bn across more than 160 transactions and currently manages investments in around 65 companies.

“The closing of BPEA IX is a defining milestone that reflects the depth, strength, and investment performance of our platform over nearly three decades,” said Jean Eric Salata, Chairperson of EQT Asia.

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