New Delhi, June 2 -- Blackstone has closed its fundraise for the Asia private equity fund at $13.1 billion, exceeding the target of $10 billion and making it the largest ever in the region for the alternative asset manager.

The fundraise for Blackstone Capital Partners Asia III closed at more than double the amount of capital raised for its predecessor vehicle.

"This successful fundraise reflects the strength of our platform and our ability to perform through cycles," Joe Baratta, Global Head of Blackstone Private Equity Strategies, said.

Baratta reposed faith in the opportunities presented by Asia Pacific and the ability of the investments to deliver value for the investors.

"Asia Pacific is the fastest-growing region in the world, p...