Blackstone closes first Asian private equity fund at $2.3bn

Global asset management company Blackstone announced on Wednesday that is has closed its first ever Asian private equity fund. The fund, called Blackstone Capital Partners Asia (BCP Asia) closed at $2.3bn.

Added to associated commitments from Blackstone’s global buyout fund, this leaves the company with a total of $3.8bn to invest in Asia, according to Straits Times.

In a statement, Blackstone’s global head of private equity Joe Baratta said: “We are thankful for all our investors’ support and we believe we are well-positioned to seize the ongoing opportunities in Asia. The region continued to experience strong growth compared to our major markets, presenting compelling investment opportunities across sectors.”

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According to Reuters, around two-thirds of the private equity fund as well as global contribution will be invested in China and India. Sectors in focus include healthcare, manufacturing and high-end consumer goods and services.  

As a whole, Blackstone, which is reportedly looking to sell the world’s largest BPO company Intelenet, has about $111bn of assets under management.