Blackstone plans launch of third Asia real estate fund

Blackstone Group is planning to launch its third Asia real estate fund, with the expectation that it will be larger than either of the previous funds in the series, according to industry sources.

The firm’s second opportunistic Asia real estate fund, Blackstone Real Estate Partners Asia II (BREP Asia II), closed at its $7.1 billion hard cap in 2018. BREP Asia II invests in warehouses and shopping malls in China, India, Southeast Asia and Australia.

“We remain focused on our high-conviction thematic areas, such as sustainability, logistics, digital infrastructure, housing and the post-COVID travel recovery,” said Jon Gray, COO and president of Blackstone.

Over the past year, Blackstone has committed well more than $100 billion, VCCircle reports.