Global private equity fund (PEF) manager EQT Partners said on the 21st that it raised the "BPEA Private Equity Fund IX" at a total size of $15.6 billion (about 23 trillion won).
According to EQT, BPEA Fund IX is the largest among Asia-Pacific PEFs to date. EQT said it delivered results even as fundraising for Asia-focused funds fell for the fourth straight year last year.
Through BPEA Fund IX, EQT plans to focus on control investments in leading companies across core sectors including technology, healthcare, industrial technology, services and technology services. The goal is to expand companies with solid fundamentals and enhance long-term corporate value.
As of today, based on completed or signed investments and announced public tender offers, BPEA Fund IX has completed investments equivalent to 5%–10% of its actual fund size.
The fund was filled not only by existing limited partners but also by more than 75 new investors. More than half are global institutions. The National Pension Fund Investment Management (pension fund) and sovereign wealth funds also participated as major investors.
EQT's Asia private equity business began in 1997 and has invested about $30 billion (about 44.154 trillion won) across more than 160 transactions to date.