EQT Closes $15.6B Asia Buyout Fund, OMERS Ups Domestic Focus

EQT led the day’s headlines with the close of BPEA Private Equity Fund IX at its $15.6B hard cap, exceeding a $12.5B target and drawing commitments from existing investors and more than 75 new LPs. The Asia-focused buyout vehicle, now the largest in the region, counts Border to Coast, Teacher Retirement System of Texas, Teachers’ Retirement System of the State of Illinois, Rhode Island State Pension and Houston Firefighters’ Relief and Retirement Fund among its backers.

Elsewhere in GP fundraising activity, HarbourVest closed its US-focused Fund XIII on $2.4B across institutional and private wealth capital, targeting buyouts and venture through a mix of primaries, secondaries and co-investments. Cerberus raised $2.3B for a continuation fund for Subsea Communications, led by CVC Secondary Partners, while emerging manager Sideline Group completed fundraising for its debut fund on $155M, exceeding its target with backing from an endowment, funds of funds, family offices and sports-linked investors.

On the allocator side, OMERS said it plans to increase its Canada allocation from roughly 18% to 25% over five years, implying at least CAD 10B ($7.3B) in additional investment, with infrastructure and real estate a focus alongside emerging interest in defense and growth capital. The Ohio State Highway Patrol Retirement System approved its 2026 allocation, maintaining a 20% private equity target and forming a working group to evaluate commitments with a $60M goal.

And in a recent appearance on the Dakota Live! podcast, Callan Associates provided insights into its manager evaluation process, pointing to performance transparency, repeatability and portfolio fit as central factors in a market where return dispersion between top and bottom managers can reach as much as 70 percentage points.

Read on for all the day’s fundraising news headlines.

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