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Bailey McCann, Opalesque New York:

EQT Private Capital Asia has closed its latest mid-market fund at more than double its target size. The Asia-focused mid-market buyout fund, which had an initial target size of $750 million, closes with $1.6 billion in total fund commitments, of which $1.4 billion is fee-generating.

The fund will focus on mid-market companies in the technology, services, and healthcare sectors across Asia, prioritising India, South East Asia, Japan and Australia.

EQT's Private Capital strategies across the world have now completed fundraises in 2024 that combine to nearly USD 29 billion in total commitments.

"We have been investing in Asia for the best part of three decades and now have a fully-scaled and established large-cap platform. Following this growth, we found that we no longer had a dedicated pool of capital to invest in compelling mid-market companies," said Jean Salata, Chairman of EQT Asia and Head of the EQT Private Capital Asia advisory team. "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."

Existing investors in the flagship Asian large-cap buyout funds made up over 80 percent of the total commitments. The majority of the remaining commitments came from investors in other EQT funds, which were allocating to the Asian platfor......................

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