Blackstone (BX) raises $13.1B for largest Asia private equity fund

Blackstone (BX) announced it raised $13.1 billion for its Asia private equity fund, surpassing its $10 billion target. This fund, Blackstone Capital Partners Asia III, is more than double the amount raised by its predecessor. Over the past 24 months, Blackstone has invested over $7 billion in 12 deals across Asia, focusing on markets like India and Japan. The fundraising occurs amidst increasing private capital activity in Asia, contrasting heightened fundraising challenges due to interest rates and geopolitical uncertainties.