BPEA Closes Fund VIII at $11.2 billion

The Fund was oversubscribed and closed at its hard cap, making it one of the largest private equity funds ever raised in Asia

13 September 2022Baring Private Equity Asia (“BPEA” or the “Firm”) confirms the final closing of its eighth private equity fund, The Baring Asia Private Equity Fund VIII (“Fund VIII” or the “Fund”). The Fund closed with total capital commitments of US$11.2 billion, surpassing its US$8.5 billion target, making it one of the largest ever private equity funds raised by an Asia-based private equity firm.

Founded in 1997, BPEA is one of the largest and longest-standing private market investment firms in Asia and a leader in active ownership strategies. The Firm has $22 billion of assets under management, more than 220 employees, and ten offices globally. In March 2022, BPEA announced that it will combine with EQT, a leading global investment firm. The transaction is expected to close in Q4 2022.

Fund VIII, which is materially larger than its predecessor, received strong support from both existing and new investors globally. As with BPEA’s prior funds, Fund VIII is very well diversified geographically, with commitments equally split between local Asian investors, and those based in North America and EMEA.

The Fund will pursue the same proven investment strategy as BPEA’s prior funds, focusing on being an active owner in control-oriented investments throughout the entire Asia Pacific region across seven core sectors, including healthcare, technology services, business services, education, financial services, consumer, and advanced manufacturing. As of June 2022, BPEA’s predecessor Fund VII was delivering a gross internal rate of return (IRR) of 38% and is one of the top-performing funds in its vintage.

Jean Eric Salata, Chief Executive and Founding Partner of BPEA, commented: “We are grateful to our existing investors who have continued to support us by committing to Fund VIII, and are excited to welcome a large number of new client relationships to the BPEA platform. It is both a privilege and a great responsibility to be a fiduciary for the many institutions, private individuals, and employee retirement funds we are fortunate to count as clients. We operate in one of the most dynamic regions for private market investing, and the scale of BPEA Fund VIII positions our Firm well to capitalize on investment opportunities across the entire Asia Pacific region, future-proofing companies and making a positive impact through our active ownership strategy.”

BPEA is a long-standing responsible investor that seeks to create value for all stakeholders through a sustainable approach to investing and within its own business. As an active owner, the Firm works closely with the management of investee companies to drive sustainable business practices that future-proof portfolio companies and ultimately deliver stronger and more sustainable returns over the long term for BPEA’s clients. BPEA has established a sustainability-linked credit facility for BPEA Fund VIII. The facility is the largest of its kind in Asia. It helps to promote the continued adoption of sustainable business practices in Asia and globally by focusing on climate change and gender.

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About Baring Private Equity Asia

Baring Private Equity Asia (BPEA) is one of Asia’s largest private alternative investment firms, with US$22 billion of FPAUM. BPEA manages a private equity investment program, sponsoring buyouts and providing growth capital to companies for expansion or acquisitions with a particular focus on the Asia Pacific region and dedicated funds focused on private real estate and private credit. The Firm has a 25-year history and over 220 employees across ten offices in Beijing, Delhi, Hong Kong, London, Los Angeles, Mumbai, Singapore, Shanghai, Sydney, and Tokyo.

BPEA is a responsible investor that seeks to create value for all stakeholders through a sustainable approach to investing. The Firm is a signatory to the UNPRI (United Nations Principles for Responsible Investment) and is committed to action within its own business and the companies in which it invests to drive sustainability across a range of issues, from climate change to social concerns to effective governance.

In March 2022, BPEA reached an agreement to combine with EQT, the purpose-driven global investment organization focused on active ownership strategies. The transaction is expected to close in Q4 2022.

For more information, please visit www.bpeasia.com.

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