Blackstone has held a final close for its latest European real estate fund, Blackstone Real Estate Partners Europe VII (BREP Europe VII).
The fund has raised €9.8 billion ($10.7 billion) of total capital commitments, making it the largest European real estate drawdown fund ever raised based on third-party capital commitments.
In total, Blackstone’s three opportunistic strategies (global, Asia, Europe) have nearly $47 billion of available capital. With scale capital available globally, including in Europe through BREP Europe VII, Blackstone believes its real estate funds are well positioned to capitalize on an opportunity-rich environment.
“We are extremely proud to have raised Europe’s largest real estate drawdown fund ever during what has been a period of exceptional dislocation in the industry, particularly in Europe,” said James Seppala, head of European real estate, Blackstone. “The real estate recovery is coming into view, and we are grateful th
