Blackstone has raised €9.8 billion for Blackstone Real Estate Partners Europe VI (BREP Europe VI), in a final close, making it the largest ever dedicated European real estate fund.

The opportunistic fund was backed by 114 first-time and returning investors, including some public pension funds. Blackstone will use it to invest in office, hotel, logistics, multifamily and single-family assets in France, Germany, Italy, the Netherlands, Spain and the UK. BREP Europe VI made its initial investment in September 2019 with the purchase of Dream Global REIT’s diversified portfolio of office and logistics assets in Western Europe.

Slate Asset Management has completed a final close for its Slate European Real Estate Fund III, with €250 million in capital commitments. Slate Europe III will target grocery real estate assets in Europe. The closed-end fund was oversubscribed, exceeding its target of €200 million. Brady Welch, Slate’s London-based founding partner, said the