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Blackstone Private Equity Expanding in Southeast Asia

Blackstone's plan to double its private equity headcount in Singapore indicates its view on the attractiveness of the region's deal flow and future potential. Southeast Asia has solid GDP growth rates, rising middle classes, and improving transparency.


singapore


Blackstone, the world's largest alternative asset manager, is signaling how it feels about Southeast Asia's potential by doubling its private equity headcount in Singapore within two years. It's one of the largest investors in all of Asia having raised an $11 billion second Asia fund in 2021, nearly triple the size of the first fund. The second fund is 75% committed with fundraising for the third Asia fund underway.


It's not just Blackstone expanding, according to KPMG, Singapore's PE funds raised a record $26 billion in 2022, up from $16 billion in 2021. The surge is due in part to China's slowdown which creates buying opportunities, but also the attractive demographic trends, burgeoning economies, and rising middle classes in the region.


Blackstone will target high-growth sectors like technology, healthcare, consumer, and financial services in Southeast Asia. Notably, they're open to deals as small as $150 million. Blackstone has a strong foothold in the region, having operated in Singapore for over a decade with a team of 100+ professionals. It successfully raised $11 billion for its second Asia PE fund in 2021 and has already deployed half of it. Once 75% is committed, they plan to launch fundraising for a third fund.

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