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Blackstone Group surpasses $5b in fundraising

by Andrea Waitrovich

The Blackstone Group has raised $5.5 billion for its European fund, according to a filing with the SEC. Blackstone Real Estate Partners Europe IV launched in May 2013 with a €5 billion ($6.8 billion) fundraising goal. The fund had a €2.67 billion ($3.7 billion) close in November and has an anticipated close date of March 2014.

The fund will invest in a wide variety of property types throughout Europe. It will purchase high-quality distressed properties to turn over as core properties once they have been stabilized.

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