Blackstone’s Strategic Partners racks up $1.9bn for seventh real estate secondaries fund

Blackstone's Strategic Partners has closed its seventh real estate secondaries fund at $1.9 billion.

Blackstone’s Strategic Partners has closed its seventh real estate secondaries fund at $1.9 billion. Since 2000, Strategic Partners, Blackstone’s secondary and fund solutions business, has raised $50 billion, according to the firm.

PRESS RELEASE

NEW YORK–(BUSINESS WIRE)–Strategic Partners, Blackstone’s (NYSE:BX) secondary and fund solutions business, announced today the final close on $1.9 billion for Strategic Partners Real Estate VII L.P. and its related committed program vehicles (collectively, “SP Real Estate VII”).

Verdun Perry, Senior Managing Director and Global Head of Strategic Partners, said: “This fundraise reflects the strong relationships we have built with our limited partners over the past two decades. We continue to reinforce our position as one of the private market’s most comprehensive sources of liquidity, while maintaining our reputation as a trusted and preferred counterparty.”

Mark Burton, Senior Managing Director and Head of Strategic Partners Real Estate said: “We have one of the market’s largest real estate portfolios, spanning interests in over 4,500 assets held by over 420 underlying real estate funds. Our ability to partner with both investors seeking liquidity and general partners and operators seeking strategic portfolio solutions will allow us to put capital to work in a wide range of real estate opportunities globally.”

About Strategic Partners
Strategic Partners is a market leader in private fund investing. Since 2000, Strategic Partners has raised $50 billion dedicated to private equity, infrastructure and real estate secondary and fund investing. Strategic Partners is recognized as an innovative and market-leading investor, with broad transaction capabilities that reinforce its established reputation as a nimble and responsive investor. Strategic Partners has executed over 1,450 transactions that represent interests in over 4,000 underlying fund vehicles managed by nearly 1,400 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 $538 billion in assets under management include investment vehicles focused on private equity, real estate, public debt and equity, growth equity, opportunistic, non-investment grade credit, real assets and secondary funds, all on a global basis. Further information is available at www.blackstone.com. Follow Blackstone on Twitter @Blackstone.