New Jersey invests $500 million in Asia Blackstone fund
The $72.8 billion New Jersey Division of Investment (NJDOI) has committed $500 million to Blackstone Real Estate Partners Asia, a recently launched $3.5 billion Asia-focused fund managed by The Blackstone Group. The vehicle is Blackstone’s first real estate fund focused on Asia. It will primarily invest in Australia, China, India and Japan.
NJDOI has invested approximately $3 billion with Blackstone. A recent investment was a $300 million commitment to Blackstone Real Estate PartnersVII, which held a $13.3 billion final close in October 2012. Also, i