Mumbai, April 21 -- EQT has closed its ninth private equity fund at $15.6 billion in total commitments, making it the largest private equity fund ever raised in the Asia-Pacific region, the firm said on Tuesday.

The oversubscribed fundraise comes at a time when capital raised for Asian funds has fallen to a 12-year low in 2025 after four consecutive years of decline. As the market increasingly bifurcates, investors are consolidating capital with scaled, global platforms that offer a proven track record of success.

"The opportunity in Asia today has shifted from chasing growth to leading profound structural transformation. As the region evolves - redefining global supply chains and scaling digital champions - it has created a more comple...