Blackstone Announces $8 Billion Final Close of Second Core Private Equity Fund
October 26 2020 - 9:00AM
Business Wire
Blackstone (NYSE: BX) today announced the final close of the
second vintage of its long-hold private equity strategy, Blackstone
Core Equity Partners (BCEP II). BCEP II was oversubscribed and
closed at its hard cap of $8 billion, which is more than 70 percent
larger than its predecessor fund and represents the largest amount
of capital raised from outside investors for a long-hold private
equity vehicle in history.
Initial discussions with investors for establishing Blackstone’s
core private equity business began in 2014, which led to the first
close of the first vintage of this strategy in 2016. This platform
is designed to hold investments for longer periods than traditional
private equity and targets investing in high-quality,
market-leading companies.
Joe Baratta, Blackstone’s Global Head of Private Equity, said:
“We are grateful for the strong vote of confidence from our
investors. The success of our pioneering Core Private Equity
platform is a testament to the quality and depth of our private
equity team. The current volatile and unpredictable environment
reinforces the importance of investing in very high-quality
companies with a long-term focus.”
Blackstone’s private equity business has a wide range of
dedicated strategies focusing on traditional corporate private
equity, core private equity, Asia, energy, and life sciences – all
at scale on a global basis. In the last year, Blackstone has raised
the largest private equity fund and largest life sciences private
fund in history.
About Blackstone Private Equity
With $184 billion of assets under management, Blackstone’s
private equity business has been a global leader since 1985. We
uncover value by identifying great companies and enhancing their
performance by providing strategic capital and outstanding
management talent. We aim to grow stronger enterprises, create
jobs, and enable our portfolio companies to build lasting value for
our investors, their employees and all stakeholders.
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Matt Anderson Matthew.Anderson@blackstone.com +1 518 248
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