The Blackstone Group launched a new European real estate fund, Blackstone Real Estate Partners Europe V, which is seeking to raise €7 billion and will target office, industrial, residential, retail and hospitality properties.

At least 60 percent of the opportunistic fund will be invested in the United Kingdom, France and Germany, while the remainder will be invested throughout the rest of Europe. Blackstone expects to hold a first close for BREP Europe V in February 2016.

Invesco Real Estate announced the launch and first close of its dedicated, open-end UK Private Rented Sector fund with £250 million (€332 million) of investable capital, including debt, from five institutional investors from Australia, Canada and the United Kingdom. Further closings are planned over the next 12 months.

“Private rented sector” is the UK term for leased multifamily assets. The Invesco Real Estate fund seeks to respond to the opportunity created by Britain’s growing imb