EQT raises $15.6 billion for Asia buyout fund BPEA IX

Mumbai: Swedish private equity firm EQT has closed one of the largest Asia-focused buyout funds, announcing the final close of EQT BPEA IX at $15.6 billion.

Total commitments reached $15.6 billion, including $14.9 billion in fee-generating assets under management. EQT added that the fund was oversubscribed, reflecting strong demand from a globally diversified investor base.

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BPEA IX will focus on control investments in leading companies across high-conviction sectors including technology, healthcare, industrial technology, services, and technology services.

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.

BPEA IX saw strong participation from both existing and new investors, attracting over 75 new investors, including more than 45 from across EQT’s broader investment platform, the company said.

Jean Eric Salata, Chairperson of EQT Asia, said, “In a highly competitive and selective fundraising market, our ability to deliver consistent realizations was a differentiator for our investors. We are deeply grateful for the trust our clients have placed in us; their support is a testament to the hard work of our team members and our long-term commitment to Asia Pacific.”

Commitments were globally diversified, with capital broadly balanced across the Americas, Europe and the Middle East, and Asia Pacific, with all regions increasing allocations from the prior vintage. Pension funds and sovereign wealth funds were leading contributors, underscoring sustained support from long-term institutional investors, it added.

Following its 2022 merger with Baring Private Equity Asia (BPEA), EQT manages over $8 billion in Indian assets across companies like HDFC Credila, Indira IVF, Sagility, AIG Hospitals and CitiusTech. Beyond CitiusTech and Sagility, EQT has healthcare-IT portfolios including GeBBS.

EQT has been actively monetising assets, including the proposed sale of its stake in healthcare IT firm CitiusTech at a valuation of around $1 billion, and the earlier $1.5-billion sale of renewable energy platform O2 Power to JSW Neo Energy.

Today, EQT’s Private Capital Asia platform provides investors with access across the full investment spectrum – from large-cap and mid-market to growth strategies. EQT also manages one of the largest co-investment platforms in Asia, providing investors with additional opportunities to scale exposure and enhance returns, it said.

“The opportunity in Asia today has shifted from chasing growth to leading profound structural transformation. As the region evolves – redefining global supply chains and scaling digital champions – it has created a more complex investment landscape,” said Hari Gopalakrishnan and Nicholas Macksey, Deputy Co-Heads of Private Capital Asia at EQT.

EQT Private Capital Asia was established in 1997 and has deployed $30 billion in over 160 transactions. EQT’s Private Capital Asia portfolio today includes investments in approximately 65 companies in 10 countries, employing more than 270,000 people.

EQT has $318 billion (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.