EQT AB has secured $15.6bn for its latest Asia private equity fund, marking the largest pool of capital ever raised for the region and underscoring renewed global investor appetite for Asian dealmaking, according to a report by Bloomberg.
The fund exceeded its original $12.5bn target set at launch in August 2024 and surpasses the previous regional record of $15bn raised by KKR in 2021.
According to Asia chairman Jean Salata, roughly 80% of commitments came from investors across the US, Europe and Asia, with the remainder sourced from the Middle East and private wealth channels. Around three-quarters of total capital was raised outside Asia, highlighting continued international demand for exposure to the region.
The US remained the single largest contributor at around 30%, but allocations from both Asia and Europe grew more quickly on a relative basis. Salata said investors are increasingly seeking diversified geographic exposure amid ongoing geopolitical tensions and market volatility.
A significant share of the fund came from new investors, with around 75 participants contributing capital for the first time, many of whom were already invested in other EQT strategies.
The fundraising reflects a broader shift among institutional allocators, many of which had previously reduced exposure to Asia due to weaker exit activity and regulatory constraints, particularly in China. That trend is now reversing as exit markets show signs of recovery and continuation vehicles provide additional liquidity options.
The latest EQT vehicle is nearly 40% larger than its predecessor, which closed at $11.2bn in 2022, and adds to a wave of sizeable Asia-focused fundraises from major managers. Bain Capital recently closed its sixth Asia fund at $10.5bn, while Blackstone has raised more than $12bn for its latest regional strategy.