Blackstone raises $1.3b for real estate debt fund
The Blackstone Group has raised $1.28 billion for Blackstone Real Estate Debt Strategies III, according to a filing with the SEC.
The real estate debt fund has a similar strategy to its predecessor, Blackstone Real Estate Debt Strategies II, which invested in mezzanine loans and whole loans. Fund II held a final close in August 2013 after raising $1.74 billion.
The third fund in Blackstone’s real estate debt series is seeking to raise $4 billion and has received commitments from the