University of Houston commits $8m to Blackstone
The $600 million University of Houston System has committed $7.5 million to Blackstone Real Estate Partners Europe V, according to Raymond Bartlett, senior associate vice chancellor for finance for the system.
The opportunistic fund, managed by The Blackstone Group, is seeking to raise €7 billion ($7.5 billion) and will target office, industrial, residential, retail and hospitality properties in Europe. At least 60 percent of the fund will be invested in the United Kingdom, France and Germany, while the rest will be invested throughout the remaining parts of Europe. The San Francisco Employees’ Retirement System committed €100 million to the fund in November 2015.
The endowment previously committed $7.5 million to Blackstone Real Estate Partners VIII in August 2015, according to Bartlett.