May 27 (Reuters) - EQT AB has raised $1.6 billion for its new Asia-focused buyout fund, the Swedish investment firm said on Monday as it seeks to expand in the mid-market private equity investments in the region.

The company also said the fundraise has more than doubled its original target size of $750 million.

The mid-market growth strategy involves investments across high-growth and mid-cap companies in the Asia-pacific region, EQT said in a statement.

In February, EQT raised 22 billion euros ($23.87 billion) for its EQT X fund, making it the company's largest-ever fundraise.

Geopolitical pressures and economic uncertainties have recently dampened investor sentiment which has weighed on private equity fundraising globally.

However, EQT has been expanding its Asia presence with the close of this fund, its first in the region since its $7.5 billion play for Baring Private Equity Asia in late 2022.

Nicholas Macksey, who heads EQT's Asia-focused mid-market growth strategy, said the fund's pipeline in the region is strong, coupled with its vast scale and network.

EQT’s Private Capital strategies across the world have now completed fundraises amounting to nearly $29 billion in 2024. ($1 = 0.9217 euros) (Reporting by Sherin Sunny in Bengaluru; Editing by Varun H K)