Blackstone‘s Strategic Partners has closed its second global infrastructure-focused secondary fund at $1.75 billion. The fund’s limited partners include sovereign wealth funds, pension funds, financial institutions, endowments, foundations and family offices.
New York, April 3, 2018 – Today, Strategic Partners Fund Solutions (“Strategic Partners”), Blackstone’s (NYSE:BX) dedicated secondary and fund solutions business, announced the final closing on the hard cap of $1.75 billion for Strategic Partners Real Assets II L.P. and related entities (“SP RA II”), its second global infrastructure-focused secondary fund. SP RA II’s global investor base is comprised of sovereign wealth funds, pension funds, financial institutions, endowments, foundations and family offices. SP RA II began investing in May 2017 and has already closed or partially closed 14 transactions.
Commenting on the closing, Stephen Can, Senior Manager Director and Co-Head of Strategic Partners, said: “We are deeply thankful for our investors’ continued support and are working diligently to produce attractive risk-adjusted returns for them.”
Verdun Perry, Senior Managing Director and Co-Head of Strategic Partners, said: “We have one of the widest footprints in all of private equity. With our experience and global reach, we believe Strategic Partners is well-positioned to capitalize on the dramatic increase in secondary infrastructure opportunities.”
Mark Bhupathi, Principal and Head of Real Assets, said: “This new, dedicated pool of capital is critical to unlocking new opportunities across the secondary market as infrastructure and real assets become a larger and more important part of investor portfolios. As one of the first movers in this space, we are seeing a multitude of attractive opportunities to provide our limited partners with exposure to this asset class.”
About Strategic Partners
Strategic Partners is a market leader in secondary private equity and private fund investing. Since 2000, Strategic Partners has raised $31 billion dedicated to private equity, real estate and infrastructure fund investing. Focusing on opportunities in funds globally, 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 1,100 transactions that represent interests in over 3,300 underlying funds managed by over 1,000 different financial sponsors.
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 $430 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 www.blackstone.com. Follow Blackstone on Twitter @Blackstone.