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Blackstone to Raise $3B Pan-Asia Fund, Posts 2Q Earnings

By ValueWalk
Asset Management

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On the same day Blackstone released a 2Q earnings report reflecting substantial growth, Reuters reported that the buyout giant is aiming to raise up to $3 billion for a debut Pan-Asia fund targeting investments in the manufacturing and healthcare sectors.

Silver Lake Registers To Raise Latest Behemoth Fund

Blackstone

Such a fund would be the second largest Asia-focused buyout vehicle of the year, according to the PitchBook Platform, but would fall well short of KKR Asian Fund III, which closed on $9.3 billion last month. Blackstone’s Asia fund is expected to close a first tranche by the end of this year, per Reuters.

Meanwhile, the buyout giant posted economic net income for 2Q of $705 million, or 59 cents per share, up 36% YoY but slightly short of analysts’ estimates of 62 cents per share. The firm’s AUM has increased to $371.1 billion, and its distributable earnings shot up to $781.4 million, a 58% YoY increase.

Read more Blackstone coverage here.

Article by PitchBook

This article was originally published in ValueWalk.

Photo: aotaro

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