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Finance

Baring Private Equity raises $11.2bn in one of Asia's largest buyout funds

Exceeded initial $8.5 bn target and 70% bigger than BPEA's previous fund

Ceremony at the Beijing headquarters of JD Health -- part of the private equity portfolio of Baring Private Equity Asia -- to mark its listing on the Hong Kong Stock Exchange in 2020.    © AP

HONG KONG (Reuters) -- Hong Kong-based Baring Private Equity Asia (BPEA) has closed its eighth pan-Asia fund at $11.2 billion, its largest, the firm said on Tuesday.

The final close, which exceeded BPEA's $8.5 billion initial target and is 70% more than its previous fund, also made it one of the largest private equity funds ever raised in Asia.

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