Blackstone Group has completed the fundraising on the world’s biggest property opportunity fund.
The global asset manager and financial services group, said today it had closed on equity commitments totalling $10.9bn (£5.5bn) for its global Blackstone Real Estate Partners VI fund. It is the ninth fund raised by the group since inception, bringing total equity commitments to $25.7bn (£12.9bn).
Jonathan Grey, senior managing director and New York-based co-head of Blackstone’s real estate group, said: ‘We are delighted to have this vote of confidence from our investors. We believe there should be attractive investment opportunities for this capital given the market dislocation that exists today.’
Chad Pike, senior managing director and London-based co-head of Blackstone’s real estate group, said: ‘With this fund we will be able to enter new markets and expand Blackstone’s global activities.’