UPDATE: Blackstone launches fourth European fund
The Blackstone Group has raised approximately $1.34 billion for Blackstone Real Estate Partners Europe IV (BREP IV), anopportunistic fund that opened for fundraising in May 2013 with a $4 billion goal. The firm aims to hold a final close in March 2015. BREP IV is targeting European investment, and much of its investment activity will be in France, Germany and the United Kingdom in CBD office, hotel industrial, logistics, multifamily and retail sectors.
Blackstone’s third European fund, Blackstone Real Estate Partners Europe III (BREP Europe III), closed in 2009 with €3.1 billion ($4.1 billion), exceeding its €2.5 billion ($3.35 billion) goal.
The European opportunistic fund series typically primarily invests in the office, industrial and hotel sectors. BREP Europe III capitalizes on platform investing, public-to-private transactions, distressed situations, and corporate and government div