RIYADH: American alternative investment management corporation Blackstone Inc. has raised $11 billion worth of capital to acquire firms residing in Asia as part of its second private equity fund for the region.
This figure represents a 300 percent increase when compared to the first pool of investments raised back in 2018, Bloomberg reported.
This comes despite inflation risks and geopolitical tensions.
Unlike the first funding round which was heavily India focused, the second round will cover a combination of investments across Asia-Pacific, Bloomberg reported, citing Amit Dixit, the Asia head of private equity.
Enticed by steady returns, geographical diversification, and a focus on environment and social governance, roughly all investors who participated in the first funding round joined the second one as well.
The investment will tackle various industries across Asia such as renewable energy, electric vehicles, healthcare, artificial intelligence, and many more.
Headquartered in New York, Blackstone has invested an accumulated $20 billion in the continent since 2018.