Blackstone has raised €9.8 billion ($10.6 billion) for its latest European opportunistic real estate fund, Blackstone Real Estate Partners Europe VI (BREP Europe VI), in a final close, making it the largest ever dedicated European real estate fund.
The fund was backed by 114 both first-time and returning investors, which include public pension funds.
“The significant demand for the fund is testament to the confidence our investors have in our ability to deploy strategic long-term capital to assets and businesses across Europe,” said James Seppala, head of real estate Europe at Blackstone. “Our scale and reach allow us to put capital to work strategically during this period of elevated volatility.”
The opportunistic fund is looking to invest in office, hotel, logistics, multifamily and single-family assets in France, Germany, Italy, the Netherlands, Spain and the United Kingdom. BREP Europe VI made its initial investment in September 2019 with the purch