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Blackstone debt fund holds final close with $1.74 billion
The Blackstone Group has raised an additional $406 million in equity commitments for its Blackstone Real Estate Debt Strategies II (BREDS II), according to a filing with the Securities and Exchange Commission.
The value-added fund previously held a close in early July. In total, BREDS II has raised $1.74 billion since its launch in October 2012. The real estate debt strategy fund had a $4 billion fundraising goal. Despite being below its target, the firm will not be raising additional capital.
BREDS II invests primarily in mezzanine debt, with a focus on preservation of investor capital where the last dollar of risk is well below current va