Blackstone mega-fund to close at a record $15.8b
Blackstone Real Estate Partners VIII is approaching a final closing and has raised $15.8 billion, surpassing its $13 billion target, according to Reuters. An official announcement has not been released.
The closing will put BREP VIII, managed by The Blackstone Group, into the record books as the largest real estate private equity fund ever, according to IREI’s FundTracker database. The firm was able to reach its goal shortly after its October 2014 launch.
The opportunistic fund focuses on distressed, out of favor and undermanaged properties.
In just under five months, the fund has attracted investors such as the Maine Public Employees Retirement System, New Jersey Divisi