Home Hedge Funds Baring Private Equity Asia closes eighth fund at $11.2 billion

Baring Private Equity Asia closes eighth fund at $11.2 billion


Baring Private Equity Asia has closed its eighth private equity fund, Baring Asia Private Equity Fund VIII, at its hard cap of $11.2 billion, one of the largest private equity funds raised by an Asia-based manager, a news release said.

The fund had an $8.5 billion target and is larger than its predecessor — the $6.5 billion Baring Asia Private Equity Fund VII.

The firm is currently being acquired by Stockholm-based private markets investment firm EQT in a deal that is set to close in the fourth quarter.

The buyout fund will invest in health care, technology services, business services, education, financial services, consumer and advanced manufacturing companies in the Asia-Pacific region.

Investors in the fund include the $184.4 billion Texas Teacher Retirement System, Austin; $63.1 billion Illinois Teachers’ Retirement System, Springfield; £60 billion ($59.7 billion) Border to Coast Pensions Partnership, Leeds, England; $48.4 billion Illinois Municipal Retirement Fund, Oak Brook; $33 billion Texas Employees Retirement System, Austin; $17.8 billion Arizona Public Safety Personnel Retirement System, Phoenix; $12.4 billion Louisiana State Employees’ Retirement System, Baton Rouge; and $9.9 billion Rhode Island Employees’ Retirement System, Providence.

James Madsen, BPEA spokesman, could not immediately provide additional information.

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