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26. Januar 2012 
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Blackstone raises US$6bln in capital for new real estate fund
US-based private equity firm Blackstone has raised more than US$6bln (€4.6bln) for its new global property fund, named Blackstone Real Estate Partners VII (BRPVII). The fund targets a size of around U$10bln and has a focus on investments in the US and Asia, sources said. The capital raising period will probably continue until February 2013.
BRPVII’s predecessor – BREPVI – was closed in 2008 with a raised capital of U$10.9bln. It invested primarily in the USA, mostly in restructuring in recapitalization. Important deals included the hotel chain Extended Stay and the mall operator General Growth Properties.
Blackstone’s new global funds can co-invest up to 20% of its capital in deals conducted by its European counterparts. The current Blackstone European property fund, BREP Europe III, still has up to €3bln in free capital. At the end of the third quarter 2011, Blackstone’s real estate operations had a total of U$30bln in assets under management.
BRPVII’s predecessor – BREPVI – was closed in 2008 with a raised capital of U$10.9bln. It invested primarily in the USA, mostly in restructuring in recapitalization. Important deals included the hotel chain Extended Stay and the mall operator General Growth Properties.
Blackstone’s new global funds can co-invest up to 20% of its capital in deals conducted by its European counterparts. The current Blackstone European property fund, BREP Europe III, still has up to €3bln in free capital. At the end of the third quarter 2011, Blackstone’s real estate operations had a total of U$30bln in assets under management.
