Blackstone holds final close for Asia fund
The Blackstone Group has held a final close for its first-ever Asia-exclusive fund, Blackstone Real Estate Partners Asia, after hauling in $4.8 billion in capital, just under its $5 billon hard cap, according to a filing with the SEC.
The close is the largest ever for an Asia-exclusive property fund, topping BlackRock’s Asia Property Fund III, which had a $3.9 billion final close in 2008, according to IREI’s FundTracker Database.
Blackstone could not be reached for comment by press time.
The opportunistic fund, which launched in January 2013, invests across property types with a focus on assets in China, India, Australia and Japan. In a past presentation to an investor, Blackstone stated that, despite healthy real estate fundamentals in Asia, limited availability of capita