Investors - AUGUST 18, 2022

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Blackstone Real Estate Partners X adds Virginia Retirement System to investor base

by Kali Persall

Blackstone Real Estate Partners X (BREP X), the latest in Blackstone’s series of global flagship real estate funds, has picked up the Virginia Retirement System (VRS) as an investor, according to a recent investment report.

BREP X will construct a diversified portfolio of real estate and real estate–related assets globally. In July, the fund surpassed $24.1 billion on its way to reaching an estimated target of $30.3 billion when it is finalized, according to The Wall Street Journal.

A slew of other U.S. pension funds and endowments have backed BREP X, including the Fire & Police Pension Association of Colorado, the Houston Firefighters’ Relief and Retirement Fund, the San Francisco Employees’ Retirement System, the University of Vermont and State Agricultural College, and the Teachers’ Retirement System of the State of Illinois, in recent months.

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