Blackstone’s secondaries unit racks up $7.5 bln for seventh PE fund

Blackstone‘s secondaries platform, Strategic Partners Fund Solutions, has closed its seventh private equity fund at a hard cap of $7.5 billion.

The limited partners of Strategic Partners Fund VII LP include pension funds, sovereign wealth funds, financial institutions, endowments, foundations and family offices from about 25 countries.

Davis Polk & Wardwell LLP advised Strategic Partners on the fundraising.

In October 2014, Strategic Partners closed its sixth secondary fund at a hard cap of $4.4 billion. No data was available on the fund’s performance.

Since its launch in 2000, Strategic Partners has raised over $27 billion for private equity and real asset funds.

Photo: The ticker and trading information for Blackstone Group is displayed at the post where it is traded on the floor of the New York Stock Exchange, April 4, 2016. Reuters/Brendan McDermid