Blackstone puts its massive new investment fund to work
With $13.3 billion burning a hole in its pocket, The Blackstone Group has gone on a spending spree.
Having closed the largest-ever real estate investment fund last year — Blackstone Real Estate Partners VII — the New York City–based investment firm is now busy putting that capital to work. It has forked out billions of dollars in recent months, spreading its clients’ financial resources across continents from East to West and back again.
• In early June, Blackstone entered into a $1 billion agreement to acquire a 70 percent stake in Alphaville Urbanismo, a Brazilian developer, according to The Wall Street Journal.
• At the end of May, the f