Blackstone raises $3b for Asia fund

The Blackstone Group has raised $3.0 billion for its first fund that focuses exclusively on Asia Pacific investment, Blackstone Real Estate Partners Asia, according to a filing with the SEC. The fund launched in April with a $4.0 billion fundraising goal, which it should easily reach by the initial target close date of December 2014.

The opportunistic fund will invest primarily in China, India, Australia and Japan and will invest across property types. Institutional investors in the fund include the Teachers’ Retirement System of the State of Illinois, the Illinois Municipal Retirement Fundand the New Jers