Blackstone Real Estate Partners Asia closes second fund at $7.1b

Blackstone has held a final close on its second Asian opportunistic real estate fund, Blackstone Real Estate Partners Asia II (BREP Asia II), reaching its hard cap. Together with commitments from Blackstone and its affiliates, BREP Asia II has approximately $7.1 billion of capital commitments.

“The size of this fund — the largest ever dedicated to real estate investing in Asia — gives us flexibility to pursue a range of opportunities and commit capital with speed and scale,” said Ken Caplan, global co-head of Blackstone real estate.

The fund launched in first quarter 2017 and will invest in warehouses and shopping malls in China, India, Southeast Asia and Australia. Blackstone’s real estate platform encompasses investments across the risk spectrum from opportunistic to core-plus to debt.