Blackstone’s European fund exceeds €7b fundraising target
The Blackstone Group has raised approximately €7.1 billion ($7.95 billion) for its Blackstone Real Estate Partners Europe V, according to two SEC filings. The fund launched in November 2015 with a €7 billion ($7.5 billion) equity fundraising target. A final close announcement was not released. Blackstone Real Estate Partners 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, while the rest will be invested throughout the remaining parts of Europe.