Strategic Partners closes sixth real estate-focused secondary fund at $1.3 bln

Blackstone’s Strategic Partners Fund Solutions has raised $1.3 billion at a hard cap for its sixth real estate-focused secondary fund. The limited partners of SP VI RE include public, corporate and foreign pension funds, financial institutions, endowments, foundations and family offices.


New York, NY, September 7, 2016. Strategic Partners Fund Solutions (“Strategic Partners”), Blackstone’s (NYSE:BX) dedicated secondary and private markets fund solutions platform, today announced the final closing for Strategic Partners Real Estate Fund VI, L.P. (“SP VI RE”), its sixth real estate-focused secondary fund, at its hard cap of $1.3 billion. SP VI RE is focused on acquiring portfolios of high-quality real estate interests and co-investments from investors seeking liquidity. Strategic Partners sourced commitments from a global investor base, including public, corporate and foreign pension funds, financial institutions, endowments, foundations and family offices.

Commenting on the closing, Verdun Perry, Co-Head of Strategic Partners, said: “Strategic Partners is thrilled with the significant investor demand for SP VI RE. Our limited partners entrust us to provide attractive risk-adjusted returns for the millions of beneficiaries they represent. Our team of 65 professionals is working tirelessly to generate long-term returns for our limited partners.”

Mark Burton, Head of Strategic Partners’ real estate practice, added: “This new pool of capital will enable Strategic Partners to commit to a wide-range of compelling secondary real estate opportunities. We believe our disciplined approach to the real estate secondary market creates value for our limited partners.”

About Strategic Partners
Strategic Partners Fund Solutions is one of the largest and most active secondary and fund solutions platforms. Strategic Partners is led by Founder and Co-Head Stephen Can and Co-Head Verdun Perry. Since inception, Strategic Partners has raised over $27 billion dedicated to private equity and real asset fund investing. Strategic Partners is recognized as an innovative and market-leading private equity and real asset investor, with broad transaction capabilities that reinforce its already established reputation as a trusted, nimble, and responsive investor. Strategic Partners has executed over 900 transactions that represent interests in over 2,800 unique underlying funds managed by over 800 different financial sponsors.

About Blackstone
Blackstone is one of the world’s leading investment firms. We seek to create positive economic impact and long-term value for our investors, the companies we invest in, and the communities in which we work. We do this by using extraordinary people and flexible capital to help companies solve problems. Our asset management businesses, with over $350 billion in assets under management, include investment vehicles focused on private equity, real estate, public debt and equity, non-investment grade credit, real assets and secondary funds, all on a global basis. Further information is available at Follow Blackstone on Twitter @Blackstone.