Blackstone Ready To Buy Real Estate With New Funds

The Blackstone Group has gathered enough commitments to close its European real estate fund at €3.094 billion, according to a regulatory filing. The fund hasn’t officially closed but is poised to do so soon. Previously, trade pub Private Equity Real Estate picked up that Tony James mentioned the fundraise in an August earnings call, saying it was “very successful.” A Blackstone spokesperson declined to comment on the fund.

The filing states that Blackstone Real Estate Partners Europe III LP was formed in October 2007, and gathered commitments from 69 investors. LPs included IPennsylvania PERS ($200m) and CPP Investment Board.

The firm’s prior European real estate efforts put a respective $1.17 and $1.8 billion in capital to work, according to the Telegraph.

Meanwhile the firm is still plugging away at its distressed real estate fund, called Blackstone Real Estate Special Situations Fund LP. In February, peHUB reported it had just $113.5 million from 40 investors towards their $1 billion target. It’s led by Michael Nash.

Previously: Blackstone Plugging Away At Distressed Real Estate Fund