EQT Private Capital Asia closes mid-market buyout funds at US$1.6 bil, twice original target

Nicole Lim
2-min read

The fund adds to the firm’s large-cap buyout strategy and is one of few scaled pan-Asian funds for mid-market control buyouts.

EQT Private Capital Asia has closed its mid-market buyout fund at US$1.6 billion ($2.16 billion), double its original target size of US$750 million, according to a release on May 27.

Out of the total fund commitments, US$1.4 billion is fee-generating. The investment firm’s BPEA EQT Mid-Market Growth Partnership (MMG Fund) invests in high-growth mid-market companies across Asia.

The fund is an extension of EQT Private Capital Asia’s large-cap buyout strategy and one of the few scaled pan-Asian investment strategies dedicated to mid-market control buyouts.

It employs the same thematic investment approach, centered on the technology, services, healthcare, and technology services sectors, with a particular focus on India, Southeast Asia, Japan, and Australia.

MMG saw a range of investors worldwide, but existing investors in the flagship Asian large-cap buyout funds made up over 80% of the total commitments.

The majority of the remaining commitments came from investors in other EQT funds, which were allocated to the Asian platform for the first time. A significant portion of the commitments also came from EQT employees.

The final close of the fund brings the combined total of fundraises completed in 2024 by EQT’s global Private Capital strategies to nearly US$29 billion in total commitments, following the US$24 billion close of EQT X in February and the US$3.3 billion close of EQT Future in March.

Jean Salata, chairman of EQT Asia and Head of the EQT Private Capital Asia advisory team, says: “With EQT Private Capital Asia Mid-Market Growth we return to our roots. We already had the track record, local expertise, and global capabilities to identify the champions of tomorrow while they are still mid-sized. Now we have the capital to execute.”

Adding on, Nicholas Macksey, partner in the EQT Private Capital Asia advisory team who heads the Mid-Market Growth strategy says that this is a testament to the dynamism of Asia’s mid-market segment, as well as their scale and network. “...the pipeline is strong and we’re excited for what’s ahead”, he says.

See Also: