EQT Private Capital Asia

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EQT Private Capital Asia
FormerlyBaring Private Equity Asia
BPEA
BPEA EQT
Company type Subsidiary
Industry Investment Management
Founded1997;27 years ago (1997)
Founder Jean Salata
Headquarters Two IFC, Central, Hong Kong
Products Private Equity
Real Estate
Private credit
AUM €$22.1 billion (Q3 2022) [1]
Number of employees
225 (2022) [1]
Parent EQT Partners
Website www.eqtgroup.com/private-capital/eqt-private-capital-asia

EQT Private Capital Asia (formerly known as Baring Private Equity Asia, BPEA and BPEA EQT) is an Asian investment firm headquartered in Hong Kong. It was founded in 1997 as an affiliate of Barings Bank before becoming an independent firm in 2000. In 2022, it was acquired by EQT Partners to act as its Asian investment platform. EQT Private Capital Asia is one of the largest private equity firms in Asia. [2] [3]

Contents

History

Baring Private Equity Asia (BPEA) was founded in 1997 [4] as a subsidiary of Baring Private Equity Partners which was an affiliate of Barings Bank. [5] In addition to BPEA, the affiliates of Baring Private Equity Partners include Baring Vostok Capital Partners, Baring Private Equity Partners India and GP Investments. [6]

Jean Salata and two other senior colleagues from the investment arm of AIG were set to run it with the ING Group providing $300 million in seed money. However, the two colleagues pulled out and ING downsized its commitment to $25 million due to the collapse or Barings Bank and the Asian financial crisis. However, despite the difficult circumstances, Salata recruited a team and deployed capital into NetEase and Mphasis. These successful investments allowed BPEA to raise $300 million for its debut fund in 1999. [7]

In 2000, Salata led a management buyout of BPEA leading it to be established as an independent Firm. The firm would keep the Barings brand name and the ING relationship in exchange for a share of the profits for a limited period. [7] [8]

In 2016, Affiliated Managers Group acquired a 15% minority stake in BPEA. [9] [10]

In 2017, BPEA launched its Credit investment unit in India after acquiring the Credit unit of Religare Global Asset Management. [11]

In March 2022, EQT Partners acquired BPEA for $7.5 billion. [12] On October, the acquisition was complete and the firm was renamed to BPEA EQT. [1] [13]

In January 2024, the firm was rebranded to EQT Private Capital Asia. [14]

Business overview

EQT Private Capital Asia mainly focuses on the Asia Pacific Region. It has three investment strategies which are: [15]

EQT Private Capital Asia has offices in Beijing, Hong Kong, Mumbai, Seoul, Shanghai, Singapore, Sydney and Tokyo. [13]

Funds

Private Equity

Fund [16] Vintage YearCommitted Capital ($m)
Baring Asia Private Equity Fund1999USD 305
Baring Asia Private Equity Fund II2002USD 257
Baring Asia Private Equity Fund III2005USD 490
Baring Asia Private Equity Fund IV2008USD 1,515
Baring Asia Private Equity Fund V2011USD 2,460
Baring Asia Private Equity Fund VI2015USD 3,980
Baring Asia Private Equity Fund VII2020USD 6,500
Baring Asia Private Equity Fund VIII [17] 2022USD 11,200

Real Estate

Fund [16] Vintage YearCommitted Capital ($m)
Baring Asia Real Estate Fund2015USD 365
Baring Asia Real Estate Fund II2018USD 1,000

Credit

FundVintage YearCommitted Capital ($m)
BPEA Credit – India Fund I2017USD 90
BPEA Credit – India Fund II2019USD 140
BPEA Credit – India Fund III2022USD 475 [18]

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References

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  2. ↑ "Baring Private Equity closes Asia buyout fund at $6.5 billion". Reuters. 21 January 2020. Retrieved 27 April 2023.
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  11. ↑ Ou, Christie (7 February 2017). "BPEA launches first India fund after Religare deal". Private Debt Investor. Retrieved 4 September 2021.
  12. ↑ Dummett, Ben (16 March 2022). "EQT Buys Baring Asia Unit in $7.5 Billion Private-Equity Merger". Wall Street Journal. ISSN   0099-9660 . Retrieved 15 April 2022.
  13. 1 2 "EQT takes over HK-based Baring Private Equity Asia". DealStreetAsia. Retrieved 22 October 2022.
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