Blackstone said Friday that it has raised $7 billion for its fourth European real estate fund. According to the firm, this figure is the “largest ever” it has closed for its European real estate fund.
NEW YORK–(BUSINESS WIRE)–Blackstone is pleased to announce that it has closed its fourth European Real Estate Fund at its cap of €5.1 billion ($7 billion). This makes it the largest ever dedicated European Real Estate fund.
Ken Caplan, Head of European Real Estate at Blackstone, said:
“We are hugely grateful to our investors for their continued support. The fact that we raised €5 billion in just six months from first to final close is testament to the ability of Blackstone’s 60-strong team dedicated to investing in European Real Estate. We have a successful 17 year track record in Europe and are excited about the opportunities to continue executing investments across Europe, delivering unparalleled speed and certainty to sellers and the expertise to add value to our properties.”
About Blackstone Real Estate
Blackstone is a global leader in real estate investing. Founded in 1991, Blackstone’s real estate business is the largest opportunistic real estate investment manager in the world, with more than $79 billion in investor capital under management. Blackstone’s portfolio includes hotel, office, retail, industrial and residential properties in the U.S., Europe and Asia. Blackstone seeks to create positive economic impact and long-term value for its investors, the companies they invest in, the companies they advise and the broader global economy. In addition to managing real estate private equity funds, our alternative asset management businesses include investment vehicles focused on private equity, hedge fund solutions, non-investment grade credit, secondary funds, and multi asset class exposures falling outside of other funds’ mandates. Blackstone also provides various financial advisory services, including financial and strategic advisory, restructuring and reorganization advisory and fund placement services. Further information is available at www.blackstone.com.