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Blackstone raises $1.5 billion for Asia fund

by Sara Kassabian

The Blackstone Group held a $1.5 billion first close for Blackstone Real Estate Partners Asia on June 7. The opportunistic fund is Blackstone’s first fund that focuses exclusively on Asia. Blackstone declined to comment on fundraising activities. Blackstone Real Estate Partners Asia launched in January 2013 with a $4 billion target fundraising goal. The fund will invest in Australia, China, India and Japan. Blackstone reportedly plans to begin investing the committed capital immediately. In March, the $72.8 billion New Jersey Division of Investments announced it had committed $500 million to the fund. In June, the $30 billion

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