Strategic Partners Fund Solutions, Blackstone’s dedicated secondary and fund solutions business, announced the final closing on the hard cap of $1.75 billion for Strategic Partners Real Assets II L.P. and related entities (SP RA II), its second global infrastructure-focused secondary fund.
SP RA II’s global investor base is comprised of sovereign wealth funds, pension funds, financial institutions, endowments, foundations and family offices. SP RA II began investing in May 2017 and has already closed or partially closed 14 transactions.
“This new, dedicated pool of capital is critical to unlocking new opportunities across the secondary market as infrastructure and real assets become a larger and more important part of investor portfolios,” said Mark Bhupathi, principal and head of real assets. “As one of the first movers in this space, we are seeing a multitude of attractive opportunities to provide our limited partners with exposure to this asset class.”
