Baring Asia hits final close on eighth pan-regional fund
Tuesday, September 13, 2022
(AVCJ by Tim Burroughs) – Baring Private Equity Asia (BPEA), which agreed to merge with EQT earlier this year, has closed its eighth pan-regional fund with commitments of USD 11.2bn.
The final total was first reported by Bloomberg and has since been confirmed to AVCJ by a source close to the situation. BPEA declined to comment.
The fund launched last year with a target of USD 8.5bn, a step up from the USD 6.5bn raised in the previous vintage. As of October 2021, there had been two incremental closes and commitments were around the USD 8.5bn mark. It was suggested at the time by a source close to the situation that USD 10bn should be in reach for the final close.
BPEA’s latest offering will be the second large-cap final close of the year to date, following The Blackstone Group’s announcement that it had raised USD 6.4bn for its second pan-regional fund. Several other managers are currently in the market, with The Carlyle Group, CVC Capital Partners, and Bain Capital targeting USD 8.5bn, USD 6bn, and USD 5bn, respectively.
