Three Asia-focused buyout funds from EQT, Bain Capital and Blackstone together raised nearly $40 billion, according to Dakota Marketplace data for the second quarter of 2026, a period in which growth equity took only 5% of global private equity fundraising, and Preqin's separate October analysis says growth equity outperformed buyouts over three years to March 2026.

TL;DR

  • Global private equity fundraising was $153.2 billion in Q2 2026, down from $171.8 billion in Q1, with large buyout funds taking half of the capital, per Dakota Marketplace.
  • Dakota says most of that large buyout capital came from Asia-Pacific, where EQT's BPEA IX, Bain Capital Asia VI and Blackstone Asia III together raised nearly $40 billion.
  • Preqin reports growth equity outperformed buyouts over the three years to March 2026, yet growth funds held only 5% of Q2 capital. Neither source provides growth equity data specific to Asia.

What happened to private equity fundraising in Q2 2026?

Dakota Marketplace, a data platform tracking institutional fund commitments, reported disclosed global private equity fundraising of $153.2 billion in the second quarter of 2026, down from $171.8 billion in the first. Dakota's hosts described capital as "concentrating fast at the top". Large buyout funds took half of the quarter's capital. Secondaries made up 10%, led by Partners Group's $9 billion Secondary VIII, and growth equity held at 5%. The largest single close was KKR North America Fund XIV at $23 billion.

Which Asia-focused funds drove the numbers?

Dakota names three funds: EQT's BPEA IX, Bain Capital Asia VI and Blackstone Asia III. Together they raised nearly $40 billion in the data Dakota reviewed. EQT, Bain Capital and Blackstone are all large private equity firms. Dakota also notes that KKR is marketing a fifth Asia-focused fund targeting $15 billion. The sources do not break down how much of each fund came from Asian investors versus global ones, so the figures show where capital is being deployed, not who is supplying it.

How has growth equity performed against buyouts?

Preqin, the alternative assets data provider, published a Strategy in Focus report on growth equity on 1 October 2026. It says growth equity outperformed buyouts over the three years to March 2026 and delivered better risk-adjusted returns than venture capital over five and 10 years. It also says capital is increasingly concentrated in North America-focused funds and that average growth fund sizes have steadily risen. Preqin's summary gives no return figures, and its detailed data is behind a subscriber paywall.

Are the two sources in conflict?

Not necessarily. Dakota describes the biggest buyout closes of one quarter, where Asia-focused funds were prominent. Preqin describes growth equity fundraising over a longer period, where North America dominates. They measure different segments, so Asia's large buyout fundraising and North America's growth equity concentration can both be true.

What should APAC investors ask?

  • How much of an Asia fund's size is concentrated in a few large deals, and how does that compare with the manager's earlier vintages?
  • Is growth equity exposure in the portfolio meaningful if only 5% of quarterly capital is going to it, and where is it being sourced?
  • What do fees and liquidity terms look like when fund sizes are rising?

These are questions for investors to raise with managers, not recommendations. For regional context, see our reports on Asia-Pacific equity fundraising reaching $327 billion in 2026, Preqin's 2026 study on allocations and tight cash and the Preqin Performance Pulse H2 2026. Family offices weighing the same trade-offs can read how UBS found APAC families favour North America but plan more Asia exposure.

Frequently Asked Questions

How much did Asia buyout funds raise in Q2 2026?

Dakota Marketplace says EQT's BPEA IX, Bain Capital Asia VI and Blackstone Asia III together raised nearly $40 billion in the period reviewed.

What share of private equity fundraising went to growth equity in Q2 2026?

Growth equity held at 5% of the quarter's capital, according to Dakota Marketplace.

Did growth equity outperform buyouts?

Preqin says so for the three years to March 2026, but it gives no return figures in the public summary and no Asia-specific analysis.

Sources and Method

Fundraising figures come from Dakota Insights, "Q2 2026 Private Equity Review: Concentration at the Top, Opportunity in the Middle", published 28 August 2026 (dakota.com/resources/blog). Performance and concentration points come from Preqin's Strategy in Focus: Growth Equity, 1 October 2026 (preqin.com/insights/research/sector-in-focus/strategy-in-focus-growth-equity). Dakota's data is an aggregator view and Preqin's report is subscriber content, so exact figures could not be checked against fund documents. Wording is original.