Blackstone Raises Record $13.1 Billion for Asia Private Equity Fund, Targets India and Japan

Blackstone is continuing to expand its private equity presence in Asia, with its third fund primarily pursuing controlling stakes in companies. India has benefited from economic growth and demand for digitalization, while corporate governance reforms and major companies’ sales of noncore assets have made Japan another key market for global investors.

Blackstone said on July 20, 2026, that its third Asia private equity fund had closed with $13.1 billion in commitments, doubling the size of its predecessor and setting a record. The fund will focus on India and Japan and has already made several investments, including a bet on demand for AI infrastructure through an investment in Indian AI cloud platform Neysa.