EQT raises $15.6 bn for largest Asian PE fund

SWEDISH PRIVATE EQUITY firm EQT, which has backed Indian companies such as HDFC’s Credilla and Indira IVF, has raised $15.6 billion for its latest Asia-focused PE fund, marking the largest-ever fund dedicated to the region.

- FE BUREAU

The fund, BPEA Private Equity Fund IX, was oversubscribed and closed at its hard cap (maximum amount of capital allowed from investors) with $14.9 billion in fee-generating assets under management, EQT said in a statement. The predecessor fund, BPEA VIII, had raised $11.2 billion in 2022.

The record fundraising comes after several challenging years for the Asian private capital market. Fundraising in the region fell to a 12-year low of $58 billion in 2025, declining sharply for the fourth consecutive year, according to a Bain & Company report. The region’s share of global fundraising has also shrunk to just 5% from 12% in 2021, reflecting cautious investor sentiment and tighter capital allocation.

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