Blackstone raises €6.7b for European fund
The Blackstone Group has raised approximately €6.7 billion ($7.1 billion) for Blackstone Real Estate Partners Europe V, according to a filing with the SEC.
The fund launched in 2015 with a €7 billion ($7.38 billion) equity fundraising target. BREP Europe V will target office, industrial, residential, retail and hospitality properties. At least 60 percent of the opportunistic fund will be invested in the United Kingdom, France and Germany, with the remainder invested throughout the rest of Europe.
In addition, a co-investment sidecar vehicle, BREP Europe V (Alberta), has raised €1.32 billion ($1.4 billion) for the fund, according to a filing with the SEC. With this additional fundraising, BREP Europe V has raised a t