EQT Expands Asia Investment Platform with Successful Close of Oversubscribed BPEA IX Fund

EQT Expands Asia Investment Platform with Successful Close of Oversubscribed BPEA IX Fund

(IN BRIEF) EQT has closed its BPEA IX fund at USD 15.6 billion, making it the largest Asia Pacific-focused private equity fund to date. The oversubscribed fund reflects strong global investor demand despite challenging fundraising conditions in the region. Backed by a diverse base of institutional investors, the fund builds on EQT’s expanded Asia platform following its merger with Baring Private Equity Asia. BPEA IX will target control investments in sectors such as technology, healthcare, and industrial services, focusing on companies with strong fundamentals and growth potential. With a long-standing presence in Asia and a strategy centered on local expertise combined with global capabilities, EQT aims to drive long-term value creation and support structural transformation across the region’s economies.

(PRESS RELEASE) STOCKHOLM, 21-Apr-2026 — /EuropaWire/ — EQT has successfully completed the fundraising for its latest Asia-focused private equity vehicle, closing BPEA Private Equity Fund IX (BPEA IX) at USD 15.6 billion in total commitments. The fund, which reached its hard cap and was oversubscribed, represents the largest private equity fund ever raised with a dedicated focus on the Asia Pacific region, including USD 14.9 billion in fee-generating assets under management.

The strong investor demand reflects continued confidence in EQT’s Asia platform, particularly following its integration with Baring Private Equity Asia. The successful close comes at a time when fundraising activity in the region has faced significant challenges, with capital raised for Asian funds reaching a multi-year low in 2025. Against this backdrop, investors have increasingly favored large, established platforms with proven track records, reinforcing EQT’s positioning in the market.

BPEA IX attracted a globally diverse group of investors, including both long-standing partners and new entrants. More than 75 new investors participated, with over 45 drawn from EQT’s broader investment network. Commitments were evenly distributed across key regions, including the Americas, Europe and the Middle East, and Asia Pacific. Institutional investors such as pension funds and sovereign wealth funds played a prominent role, highlighting sustained support from long-term capital providers.

Jean Eric Salata, Chairperson of EQT Asia, described the fund’s closing as a significant milestone that underscores the combined strengths of EQT and BPEA. He noted that the organization’s long-standing presence in Asia, along with its ability to generate consistent returns and navigate varying market conditions, has been central to attracting investor confidence.

The fund builds on EQT’s long-term strategy in Asia, which emphasizes a “local-with-locals” approach. This model involves maintaining dedicated teams across major regional markets, enabling the firm to combine local expertise with global resources. Since the 2022 merger with BPEA, this approach has been further strengthened, creating a unified platform that integrates regional insight with global sector expertise and operational capabilities.

Hari Gopalakrishnan and Nicholas Macksey, Deputy Co-Heads of Private Capital Asia at EQT, highlighted that investment opportunities in the region are increasingly driven by structural transformation rather than pure growth. They emphasized the importance of active ownership and operational improvement in delivering long-term value, particularly as Asia continues to reshape global supply chains and expand its digital economy.

BPEA IX will focus on acquiring controlling stakes in companies operating in high-growth sectors such as technology, healthcare, industrial technology, and services. The strategy targets businesses with strong fundamentals, where EQT can apply its value-creation expertise to drive expansion and build resilient, globally competitive enterprises.

EQT’s Private Capital Asia platform, established in 1997, has deployed approximately USD 30 billion across more than 160 investments. The current portfolio includes around 65 companies across 10 countries, collectively employing over 270,000 people. The new fund is already partially invested, with between 5 and 10 percent of capital committed to existing or announced transactions.

BPEA IX is currently 5-10 percent invested (including closed and/or signed investments, announced public offers, if applicable, and less any expected syndication), based on the actual fund size.

1) Source: Preqin, based on total fund commitments (April 2026)
2) Source: Bain & Company, Asia-Pacific Private Equity Report 2026 (March, 2026)

About EQT
EQT is a purpose-driven global investment organization focused on active ownership strategies. With a Nordic heritage and a global mindset, EQT has a track record of more than three decades of developing companies across multiple geographies, sectors and strategies. EQT has investment strategies covering all phases of a business’ development, from start-up to maturity. EQT has EUR 270 billion in total assets under management (EUR 141 billion in fee-generating assets under management) as of 31 December 2025, within two business segments – Private Capital and Real Assets.

With its roots in the Wallenberg family’s entrepreneurial mindset and philosophy of long-term ownership, EQT is guided by a set of strong values and a distinct corporate culture. EQT manages and advises funds and vehicles that invest across the world with the mission to future-proof companies, generate attractive returns and make a positive impact with everything EQT does.

The EQT AB Group comprises EQT AB (publ) and its direct and indirect subsidiaries, which include general partners and fund managers of EQT funds as well as entities advising EQT funds. EQT has offices in more than 25 countries across Europe, Asia and the Americas and has more than 1,900 employees.

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Media Contact:

Olof Svensson
Head of Shareholder Relations
+46 72 989 09 15

EQT Press Office
press@eqtpartners.com

SOURCE: EQT