Blackstone announces $15.8b final haul for mega-fund
The Blackstone Group has announced the $15.8 billion final close for its latest global real estate fund, Blackstone Real Estate Partners VIII.
The fundraising total for the opportunistic fund was first noted in April, when the firm said the mega-fund would surpass its $13 billion fundraising target., just a few months after its October 2014 launch. The fund focuses on distressed, out-of-favor and undermanaged properties.
The closing has made BREP VIII the largest real estate private equity fund ever, according to IREI’s FundTracker database.
The majority of investments came from investors that had previously invested in Blackstone real estate funds, according to the statement. The long list of investors includes the