Maples Advises Baring Private Equity Asia on its Largest Fund to Date

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Maples and Calder, the Maples Group's law firm, is pleased to have advised Baring Private Equity Asia ("BPEA") on the launch of its eighth private equity fund, The Baring Asia Private Fund VIII (the "Fund"). The Fund closed in September 2022 with total capital commitments of USD11.2 billion and exceeded its initial target of USD8.5 billion. Impressively, it is the largest fund raised by BPEA to date and one of the largest ever private equity funds raised by an Asia-based private equity firm.

The Fund will make investments throughout the Asia Pacific region across seven core sectors including healthcare, technology services, business services, education, financial services, consumer, and advanced manufacturing.

A team of lawyers based in the Group's law firm in Hong Kong acted as Cayman Islands legal counsel to BPEA. The team was led by Funds & Investment Management Partner Sharon Yap and assisted by Associate Aidan O'Regan.

Commenting on the transaction, Sharon said, "We are delighted to be working with our long-term client BPEA on its latest flagship fund and we look forward to supporting the fantastic team at BPEA as they go from strength to strength."

Notably, lawyers from the international law firm's Hong Kong, Cayman Islands and British Virgin Islands offices are also advising on the combination of BPEA and EQT AB which is expected to close in Q4 2022 ^[[1]].

[1] https://maples.com/en/news/2022/4/maples-advises-on-eqt-ab-s-acquisition-of-baring-private-equity-asia