Blackstone Hits $10 Billion Asia Fund Goal Amid PE Chill (1)

Blackstone Inc. hit a $10 billiontarget for its latest Asia buyout fund as investors bet an entrenched India presence and expanding footprint in Japan will keep powering strong returns, people familiar with the matter said.

The world’s biggest asset manager is set to wrap up fundraising by the first quarter of next year, the people said. The New York-based firm is likely to reach its $12.9 billion hard cap, the maximum set out in marketing materials, the people said, asking not to be identified because they’re not allowed to discuss the matter in public.

Blackstone attracted big backers ...