Barings Private Equity Asia (BPEA) has completed what it claims is one of the biggest fundraises by an Asia-based private equity firm. The Baring Asia Private Equity Fund VIII pulled in US$11.2 billion for its final close, surpassing its $8.5billion target. As with its predecessors, the fund will focus on an active ownership strategy for companies in the Asia Pacific region across multiple sectors including healthcare, technology services, business services, education, financial services, consumer, and advanced manufacturing. The fund launch follows BPEA’s acquisition by Swedish investment firm EQT. The $6.8 billion deal was announced in March and is expected to close before the year-end. © 2022 funds global asia