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Blackstone raises more than $9 billion in new Asia funds

Reuters  |  HONG KONG 

HONG KONG (Reuters) - said it has raised about $9.4 billion in new Asia-focused funds, including its first fund for the region, adding to a massive industry-wide pool of for Asian acquisitions and investments.

The U.S. firm closed the Asian fund at about $2.3 billion, while raising $7.1 billion for its second regional "opportunistic" fund, it said in two separate statements.

Investor interest in Asia-focused private equity has grown as deals have increased in size following corporate restructuring and as global private equity funds make headway in key markets, including China, and

"The region continues to experience strong growth compared to other major markets, presenting compelling opportunities across sectors," said Joe Baratta, Blackstone's

With the new private equity fund, Blackstone said it now has at least $3.8 billion to invest in equity when "associated commitments" from its global buyout fund are counted.

is set to close its biggest private equity fund at $6.5 billion, reported last month, after other global groups including raised fresh capital.

Blackstone said its fund was the largest ever dedicated to investing in Asia.

Global investors have shown robust appetite for shopping malls, warehouses and other property assets in Asia, buoyed by growing urbanization and rising incomes in its two most populous countries of and

"The size of this fund...gives us flexibility to pursue a range of opportunities and commit capital with speed and scale," Ken Caplan, of Estate said.

Blackstone's real estate business was founded in 1991 and has about $120 billion in capital under management globally. The portfolio includes hotel, office, in the United States, Europe, Asia and

The firm raised $5.08 billion in its first Asia-focused property fund.

(Reporting by Sumeet Chatterjee, and Julie Zhu; Editing by Edwina Gibbs)

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Wed, June 13 2018. 10:47 IST
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