Blackstone’s European flagship real estate fund, Blackstone Real Estate Partners (BREP) Europe VII, has now raised more than $4.055 billion of capital, following a fundraising period during quarter three that saw more than $3 billion committed to the fund.
“Over half of our investment activity in real estate this year has been in Europe, given greater dislocation and pressure on sellers in the region,” said Jon Gray, president and chief operating officer at Blackstone, during the company’s third-quarter earnings call last week.
“Ultimately,” Gray said, “there will be real estate to buy and real estate to sell. And with our $66 billion of dry powder, I think we’re going to be in a really unique position. I mean, we raised this $30-plus billion global fund. I think we’ve invested less than 5 percent of that fund today.”
For more information about this fund and others, visit the IREI.Q database.