Blackstone has closed its latest global real estate fund, Blackstone Real Estate Partners X (BREP X), with $30.4 billion of capital commitments — the largest real estate or private equity drawdown fund ever raised.
Anticipating changing macrotrends, Blackstone Real Estate shifted its portfolio away from assets facing headwinds, such as traditional office and malls, and is primarily concentrated in logistics, rental housing, hospitality, lab office and data centers. Blackstone said BREP X’s scale and discretionary capital position it well to capitalize on opportunities in its highest-conviction sectors across the globe.
“We believe the current market is tailor-made for Blackstone Real Estate,” said Ken Caplan, global co-head of Blackstone Real Estate. “We have made some of our best investments in periods characterized by the market volatility and dislocation we see today. Furthermore, sector selection has never been more critical as we witness the bifurcation
