Blackstone Has $15.8 Billion Final Close for Latest Global Real Estate Fund
October 01 2015 - 7:30AM
Business Wire
Blackstone (NYSE:BX) today announced the final close of its
latest global real estate fund, Blackstone Real Estate Partners
VIII (“BREP VIII”), at $15.8 billion. Blackstone currently manages
two regional opportunistic real estate funds, the $8.2 billion
Blackstone Real Estate Partners Europe IV and the $5 billion
Blackstone Real Estate Partners Asia.
Jon Gray, Blackstone’s global head of real estate, said, “We are
grateful to our limited partners for their continued support, and
remain committed to delivering favorable returns. The size of this
fund gives us the ability to commit capital in scale with speed and
certainty.”
Added Kathleen McCarthy, the global chief operating officer of
Blackstone’s real estate group, “This fundraise reflects the strong
relationship we’ve had with our limited partners for more than two
decades. The fund is already 20% committed and we continue to see
compelling opportunities to deploy capital.”
Among the fund’s initial investments are the purchase of
significant real estate assets from General Electric Capital
Corporation, and the announced agreement to acquire Strategic
Hotels, a publicly traded real estate investment trust.
Substantially all of the capital in the fund comes from
investors that had previously participated in Blackstone’s real
estate funds. These investors are both from the US and around the
world.
About Blackstone Real Estate
Blackstone is a global leader in real estate investing.
Blackstone’s real estate business was founded in 1991 and has
approximately $92 billion in investor capital under management.
Blackstone’s real estate portfolio includes hotel, office, retail,
industrial and residential properties in the US, Europe, Asia and
Latin America. Major investments include Hilton Worldwide,
Invitation Homes (single family homes), Logicor (pan-European
logistics), SCP (Chinese shopping malls), and prime office
buildings in the world’s major cities. Blackstone real estate also
operates one of the leading real estate finance platforms,
including management of the publicly traded Blackstone Mortgage
Trust.
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version on businesswire.com: http://www.businesswire.com/news/home/20151001005810/en/
Media:Peter Rose, 212-583-5871Rose@Blackstone.com
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