EQT has raised more than $10bn for its latest Asia buyout fund, BPEA Private Equity Fund IX, positioning it to potentially surpass the region’s fundraising record as it moves toward a final close in the second half of 2025.

The vehicle, managed by EQT Private Capital Asia, launched in August 2024 with a $12.5bn target and a $14.5bn hard cap. According to the firm’s Q1 results, the fund has already been activated and is expected to reach its target by this summer.

If BPEA Fund IX reaches or exceeds the hard cap, it will mark EQT’s largest-ever fund in Asia and could set a new benchmark in the region’s private equity fundraising history. The current record-holder is KKR’s $15bn Asia Pacific Fund IV, which closed in 2021.

CEO and Managing Partner Christian Sinding noted the fund’s strong momentum and investor backing amid sustained interest in Asia-focused strategies.

Source: Reuters