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European fundraising takes off in 2014

by Reg Clodfelter

European funds completed a massive quarter for fundraising, with funds that had a final close in first quarter 2014 raising $10.7 billion, after funds that had a final close only raised $950.5 million in first quarter 2013, and $11.2 billion throughout all of 2013, according to data from the IREI FundTracker database.

The haul was spearheaded by Blackstone Real Estate Partners Europe IV, managed by the The Blackstone Group, which closed last month after raising €5.1 billion ($7 billion) in less than a year of marketing. The success of the opportunistic fund, which targets high-quality distressed properties throughout Europe to stabilize and turn over as core, signals investors are once again ready to invest

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