Blackstone to raise USD3 billion for Asia-focused fund

Ironwood

Blackstone Group LP said it will seek to raise about USD3 billion for its first Pan-Asia buyout fund.

According to Reuters citing people familiar with the matter, the fund will be used for investments in sectors including high-end manufacturing and healthcare, people familiar with the plan told Reuters.

The quoted source said, “The fund will mainly look at China, India, Southeast Asia, Australia and Korea, and could be planning to invest in Japan as well”.

Blackstone did not comment on the matter.

The group has $367 billion assets under management according to its latest filing. Blackstone invests in assets for public and corporate pension funds, academic, cultural and charitable organisations, among others.

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