Fundraising - APRIL 24, 2013

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Blackstone raises $1.35 billion for second debt fund

by Andrea Waitrovich

The Blackstone Group has raised $1.35 billion for its latest real estate debt strategy fund, Blackstone Real Estate Debt Strategies II (BREDS II), according to a filing with Securities and Exchange Commission. A close was not disclosed in the filing.

The fund launched in October 2012 with a $3 billion fundraising goal. It is one of the largest debt funds in market.

BREDS II is expected to invest primarily in mezzanine debt, with a focus on preservation of investor capital where the last dollar of risk is well below current values and replacement cost. Investments will be located in North America and Europe. Through this strategy, BREDS II seeks to generate attractive returns and make quarterly current income distributions to its limited pa

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