New Delhi, June 2 -- Global private equity firm Blackstone has raised its third Asia-focused fund at $13.1 billion, exceeding its $10 billion target and making it one of the largest fundraisers in the region, the company said in a statement on Tuesday.

The oversubscribed fund and the firm's largest so far reached its hard cap and builds on the strong performance of the strategy's first two vintages, with this close representing more than double the amount of capital raised for its previous vehicle.

"This successful fundraise reflects the strength of our platform and our ability to perform through cycles. Asia Pacific is the fastest-growing region in the world, presenting compelling opportunities to invest at scale behind our high-convic...