Blackstone raises $4.2b for Asia fund
The Blackstone Group has raised an additional $660 million since June for Blackstone Real Estate Partners Asia, its first-ever Asian exclusive fund, bringing the total capital raised to $4.19 billion, according to a filing with the SEC.
The fund has eclipsed the $4 billion goal it set when it launched in January 2013, though an official announcement of a final close has not been released and Blackstone could not be reached for comment. There is a $5 billion hard cap.
The opportunistic fund will invest across all property types with a focus on assets in China, India, Australia and Japan. In a past presentation to an investor, Blackstone stated that, despite healthy real estate fundamentals in Asia, limited capital availability is creating favorable pricing. Additionally, Blacks