(Bloomberg) -- Blackstone Group Inc. is seeking to raise at least $5 billion for its second Asian private equity fund, people familiar with the matter said.

The U.S. investment firm has started marketing the new vehicle, which is more than double the size of its first Asia fund, according to the people. The size of the fund could increase depending on the level of investor demand in the coming months, the people said, asking not to be identified because the information is private.

A representative for Blackstone couldn’t immediately be reached for comment.

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