Blackstone has hit its $10bn fundraising target for its latest Asia-focused buyout fund, underlining investor appetite for the firm’s regional strategy despite a challenging private equity fundraising environment, according to a report by Bloomberg.
The report cites unnamed people familiar with the matter as revealing that the New York-based manager is expected to close the vehicle by the first quarter of 2026 and could reach its $12.9bn hard cap. The raise follows the strong performance of Blackstone’s second Asia fund, which delivered a 41% net return as of Q2 and has already returned nearly 80% of committed capital.
The new fund, launched in September 2024, has drawn backing from around 90% of prior LPs, many of whom increased their commitments by roughly 30%. Blackstone has marketed its regional scale – with a long-established presence in India and an expanded footprint in Japan – as a key driver of returns. In previous funds, allocations leaned heavily toward India (31%) and Japan (22%), alongside Australia (9%).
