Swedish private equity firm EQT has secured more than $10bn in investor commitments for its latest Asia-focused buyout vehicle, BPEA Private Equity Fund IX, ahead of an anticipated first close this April, according to a report by Reuters.
The fund, launched in August 2024 and managed by EQT Private Capital Asia, is targeting $12.5bn, with a hard cap set at $14.5bn, the firm said in its Q1 results. According to EQT CEO and Managing Partner Christian Sinding, the fund has already been activated and is expected to hit its target size by this summer.
Fundraising is projected to wrap up in the second half of 2025. If the fund reaches or exceeds its hard cap, it would mark EQT’s largest ever in the region – and potentially the largest private equity fund ever raised for Asia. The current record-holder is KKR’s $15bn Asia Pacific Fund IV, which closed in 2021.
