EY Southeast Asia Private Equity Review 2025: $9.1 Billion Capital Deployed in 59 Deals with Average $154 Million Deal Size, Top 4 Sectors by Investment Value in 2025 – Infrastructure, Telecom, Real Estate, Energy, Top 4 Private Equity Investments in 2025 – GLP $1.5 Billion (Abu Dhabi Investment Authority), Princeton Digital Group $1.3 Billion (Stonepeak Infrastructure Partners), Yinson Production Offshore $1 Billion (Abu Dhabi Investment Authority, British Columbia Investment Management), True Internet Data Center $1 Billion (Global Infrastructure Partners), Top 3 Southeast Asia Private Equity Funds Closed in 2025 – Axiom Asia VII (Axion Asia) $1.28 Billion, Quadria Capital Fund III (Quadria Capital) $1.07 Billion, ABC Impact Fund II ABC Impact) $600 Million, Southeast Asia Private Credit Fundraising (Closed Funds) in 2025 – $855 Million

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EY Southeast Asia Private Equity Review 2025: $9.1 Billion Capital Deployed in 59 Deals with Average $154 Million Deal Size, Top 4 Sectors by Investment Value in 2025 – Infrastructure, Telecom, Real Estate, Energy, Top 4 Private Equity Investments in 2025 – GLP $1.5 Billion (Abu Dhabi Investment Authority), Princeton Digital Group $1.3 Billion (Stonepeak Infrastructure Partners), Yinson Production Offshore $1 Billion (Abu Dhabi Investment Authority, British Columbia Investment Management), True Internet Data Center $1 Billion (Global Infrastructure Partners), Top 3 Southeast Asia Private Equity Funds Closed in 2025 – Axiom Asia VII (Axion Asia) $1.28 Billion, Quadria Capital Fund III (Quadria Capital) $1.07 Billion, ABC Impact Fund II ABC Impact) $600 Million, Southeast Asia Private Credit Fundraising (Closed Funds) in 2025 – $855 Million

5th March 2026 | Hong Kong

EY has released the Southeast Asia Private Equity Review 2025, providing key insights into private equity investments & exits in Southeast Asia in 2025.  Southeast Asia Private Equity Capital Deployed in 2025 – $9.1 billion.  Capital Deployed Average Deal Size in 2025– $154 million.  Capital Deployed No. of Deals in 2025 – 59 deals.  Capital Deployed Deals > $1 billion – 4 deals.  Private Equity-Backed Exits in 2025 – $4.4 billion.  Private Equity-Backed Exits Average Deal size in 2025 – $133 million.  Private Equity-Backed Exits No. of Deals in 2025 – 33 deals.  Top 4 Sectors by Investment Value in 2025 – Infrastructure, Telecom, Real Estate, Energy.  Top 4 Private Equity Investments in 2025 – GLP $1.5 billion (Abu Dhabi Investment Authority), Princeton Digital Group $1.3 billion (Stonepeak Infrastructure Partners), Yinson Production Offshore $1 billion (Abu Dhabi Investment Authority, British Columbia Investment Management), True Internet Data Center $1 billion (Global Infrastructure Partners).  Top 4 Private Equity-Backed Exits in 2025 – Apex Logistics $996 million (Partners Group), Avery Lodge $556.3 million (Blackstone), Digital Halo $400 million (Arch Capital Management), Amara Holdings $398.3 million (Dymon Asia Private Equity).  Top 3 Southeast Asia Private Equity Funds Closed in 2025 – Axiom Asia VII (Axion Asia) $1.28 billion, Quadria Capital Fund III (Quadria Capital) $1.07 billion, ABC Impact Fund II ABC Impact) $600 million.  Global Private Credit AUM in 2025 March – $1.9 trillion.  APAC Private Credit AUM of Global AUM – 7%.  APAC Private Credit Fundraising (Closed Funds) in 2025 – $13.8 billion.  Southeast Asia Private Credit Fundraising (Closed Funds) in 2025 – $855 million.  See below for key findings & summary | View report here

“ EY Southeast Asia Private Equity Review 2025: $9.1 Billion Capital Deployed in 59 Deals with Average $154 Million Deal Size, Top 4 Sectors by Investment Value in 2025 – Infrastructure, Telecom, Real Estate, Energy, Top 4 Private Equity Investments in 2025 – GLP $1.5 Billion (Abu Dhabi Investment Authority), Princeton Digital Group $1.3 Billion (Stonepeak Infrastructure Partners), Yinson Production Offshore $1 Billion (Abu Dhabi Investment Authority, British Columbia Investment Management), True Internet Data Center $1 Billion (Global Infrastructure Partners), Top 3 Southeast Asia Private Equity Funds Closed in 2025 – Axiom Asia VII (Axion Asia) $1.28 Billion, Quadria Capital Fund III (Quadria Capital) $1.07 Billion, ABC Impact Fund II ABC Impact) $600 Million, Southeast Asia Private Credit Fundraising (Closed Funds) in 2025 – $855 Million “

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EY Southeast Asia Private Equity Review 2025: $9.1 Billion Capital Deployed in 59 Deals with Average $154 Million Deal Size, Top 4 Sectors by Investment Value in 2025 – Infrastructure, Telecom, Real Estate, Energy, Top 4 Private Equity Investments in 2025 – GLP $1.5 Billion (Abu Dhabi Investment Authority), Princeton Digital Group $1.3 Billion (Stonepeak Infrastructure Partners), Yinson Production Offshore $1 Billion (Abu Dhabi Investment Authority, British Columbia Investment Management), True Internet Data Center $1 Billion (Global Infrastructure Partners), Top 3 Southeast Asia Private Equity Funds Closed in 2025 – Axiom Asia VII (Axion Asia) $1.28 Billion, Quadria Capital Fund III (Quadria Capital) $1.07 Billion, ABC Impact Fund II ABC Impact) $600 Million, Southeast Asia Private Credit Fundraising (Closed Funds) in 2025 – $855 Million

EY has released the Southeast Asia Private Equity Review 2025, providing key insights into private equity investments & exits in Southeast Asia in 2025.  See below for key findings & summary | View report here

EY Southeast Asia Private Equity Review 2025

Summary:

1. Southeast Asia Private Equity Capital Deployed in 2025 – $9.1 billion 
2. Capital Deployed Average Deal size in 2025– $154 million 
3. Capital Deployed No. of Deals in 2025 – 59 deals 
4. Capital Deployed Deals > $1 billion – 4 deals 
5. Private Equity-Backed Exits in 2025 – $4.4 billion 
6. Private Equity-Backed Exits Average Deal size in 2025 – $133 million
7. Private Equity-Backed Exits No. of Deals in 2025 – 33 deals
8. Top 4 Sectors by Investment Value in 2025 – Infrastructure, Telecom, Real Estate, Energy
9. Top 4 Private Equity Investments in 2025 – GLP $1.5 billion (Abu Dhabi Investment Authority), Princeton Digital Group $1.3 billion (Stonepeak Infrastructure Partners), Yinson Production Offshore $1 billion (Abu Dhabi Investment Authority, British Columbia Investment Management), True Internet Data Center $1 billion (Global Infrastructure Partners)
10. Top 4 Private Equity-Backed Exits in 2025 – Apex Logistics $996 million (Partners Group), Avery Lodge $556.3 million (Blackstone), Digital Halo $400 million (Arch Capital Management), Amara Holdings $398.3 million (Dymon Asia Private Equity)
11. Top 3 Southeast Asia Private Equity Funds Closed in 2025 – Axiom Asia VII (Axion Asia) $1.28 billion, Quadria Capital Fund III (Quadria Capital) $1.07 billion, ABC Impact Fund II ABC Impact) $600 million
12. Global Private Credit AUM in 2025 March – $1.9 trillion
13. APAC Private Credit AUM of Global AUM – 7%
14. APAC Private Credit Fundraising (Closed Funds) in 2025 – $13.8 billion
15. Southeast Asia Private Credit Fundraising (Closed Funds) in 2025 – $855 million

EY Southeast Asia Private Equity Review 2025

1) Overview – Southeast Asia Private Equity

Southeast Asia Private Equity Overview:

• Capital Deployed in 2025 – $9.1 billion 
• Capital Deployed Average Deal size in 2025– $154 million
• Capital Deployed No. of Deals in 2025 – 59 deals 
• Capital Deployed Deals > $1 billion – 4 deals 
• Private Equity-Backed Exits in 2025 – $4.4 billion 
• Private Equity-Backed Exits Average Deal size in 2025 – $133 million
• Private Equity-Backed Exits No. of Deals in 2025 – 33 deals

Private Equity Investments (Capital Deployed) in Southeast Asia (2018 to 2025):

• 2018 – $3.7 billion
• 2019 – $4.9 billion
• 2020 – $7.9 billion
• 2021 – $16.9 billion
• 2022 – $6.7 billion
• 2023 – $2.5 billion
• 2024 – $16 billion 
• 2025 – $9.1 billion ($154 million average per investment)

No. of Private Equity Exits in Southeast Asia (2018 to 2025):

• 2018 – 25
• 2019 – 13
• 2020 – 14
• 2021 – 15
• 2022 – 11
• 2023 – 13
• 2024 – 28
• 2025 – 33

2) Private Equity Investments in Southeast Asia

Top 7 Sectors by Investment Value in 2025:

1. Infrastructure – 42%
2. Telecom – 12%
3. Real Estate – 11%
4. Energy – 11%
5. Healthcare – 8%
6. Financial – 5%
7. Business Services – 4%

Top 10 Sectors by Investment Value in 2024:

1. Infrastructure – 40.1%
2. Real Estate – 20%
3. Consumer – 13.4%
4. Healthcare – 8.9%
5. Energy – 6.3%
6. Business Services – 4.4%
7. Financial – 3.3%
8. Utilities – 1.5%
9. Industrials – 1.3%
10. Technology – 0.4%

Top 8 Sectors by Investment Value in 2023:

1. Healthcare – 28.8%
2. Telecom – 24.6%
3. Business Services – 15.1%
4. Industrials – 14.3%
5. Infrastructure – 13.2%
6. Consumer – 8.8%
7. Materials – 3.2%
8. Technology – 2%

Top 4 Private Equity Investments in 2025:

1. GLP (Infrastructure, Singapore) – $1.5 billion (Abu Dhabi Investment Authority)
2. Princeton Digital Group (Infrastructure, Singapore) – $1.3 billion (Stonepeak Infrastructure Partners) 
3. Yinson Production Offshore (Singapore) – $1 billion (Abu Dhabi Investment Authority, British Columbia Investment Management)
4. True Internet Data Center (Thailand) – $1 billion (Global Infrastructure Partners)

Top 3 Private Equity Investments in 2024:

1. Malaysia Airports Holdings (Infrastructure, Malaysia) – $3.1 billion (Global Infrastructure Partners, ADIA, Khazanah, Employees Provident Fund)
2. ST Telemedia Global Data Centres (Infrastructure, Singapore) – $1.3 billion (KKR, Singtel) 
3. Portfolio of property assets (Singapore) – $1.2 billion (Warburg Pincus)

Top 4 Private Equity-Backed Exits in 2025:

1. Apex Logistics (Industrials, Singapore) – $996 million (Partners Group)
2. Avery Lodge (Real Estate, Singapore) – $556.3 million (Blackstone)
3. Digital Halo (Infrastructure, Singapore) – $400 million (Arch Capital Management)
4. Amara Holdings (Real Estate, Singapore) – $398.3 million (Dymon Asia Private Equity)

Top 3 Private Equity-Backed Exits in 2024:

1. Portfolio of property assets (Real estate, Singapore) – $1.2 billion (Blackstone)
2. PropertyGuru (Real Estate, Singapore) – $1.1 billion (KKR, TPG Capital)
3. Island Hospital (Healthcare, Malaysia) – $966 billion (Affinity Equity Partners)

3) Private Equity Fundraising in Southeast Asia

Top 5 Southeast Asia Private Equity Funds Closed in 2025:

1. Axiom Asia VII (Axion Asia) – $1.28 billion
2. Quadria Capital Fund III (Quadria Capital) – $1.07 billion
3. ABC Impact Fund II ABC Impact) – $600 million
4. Olympus Clean Energy Fund (Olympus Capital Asia) – $500 million
5. Dana Iklim+ (Kumpulan Wang Persaraan) – $474.7 million

Top 3 Southeast Asia Private Equity Funds Closed in 2024:

1. TPG Asia Fund VIII (TPG Capital) – $5.3 billion
2. Asia Partners II (Asia Partners) – $474 million
3. Exacta Asia Investment III (Mizuho Asia Partners) – $320 million

4) Private Credit

Global Private Credit AUM:

• 2013 – $500 billion
• 2014 – $500 billion
• 2015 – $600 billion
• 2016 – $700 billion
• 2017 – $800 billion
• 2018 – $1 trillion
• 2019 – $1.1 trillion
• 2020 – $1.3 trillion
• 2021 – $1.6 trillion
• 2022 – $1.6 trillion
• 2023 – $1.9 trillion
• 2024 – $1.9 trillion
• 2025* – $1.9 trillion

Data* ~ 2025 March

APAC Contribution to Global Private Credit AUM:

• 2013 – 5% of Global Private Credit AUM
• 2014 – 6%
• 2015 – 6%
• 2016 – 8%
• 2017 – 8%
• 2018 – 8%
• 2019 – 8%
• 2020 – 7%
• 2021 – 7%
• 2022 – 5%
• 2023 – 5%
• 2024 – 6%
• 2025 – 7%

APAC Private Credit Fundraising (Closed Funds):

• 2018 – $7.8 billion
• 2019 – $9.8 billion
• 2020 – $8.8 billion
• 2021 – $9 billion
• 2022 – $20 billion
• 2023 – $6.9 billion
• 2024 – $5.5 billion
• 2025 – $13.8 billion

Southeast Asia Private Credit Fundraising (Closed Funds):

• 2018 – $546 million
• 2019 – $558 million
• 2020 – $404 million
• 2021 – $2.3 billion
• 2022 – $2.7 billion
• 2023 – $103 million
• 2024 – $2.7 billion
• 2025 – $855 million

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