Blackstone is close to raising $10bn (€8.9bn) for its latest European opportunistic real estate fund.

At the company’s first quarter earnings conference call, Jonathan Gray, president and chief operating officer, said: “For our fourth flagship fund, European real estate [Blackstone Real Estate Partners Europe VI], we expect the vast majority of its approximately $10bn to be raised in the coming weeks.

“The ability to raise record-setting funds and close to a one and done basis speaks to the strength of the global franchise.”

As previously reported, Blackstone was seeking €8bn for the fund. The predecessor fund raised €7.8bn in 2017.

Texas County & District Retirement System pension fund said it recently approved a €90m commitment into the fund.

The pension fund has also approved a $25m commitment into the KSL Capital Partners V, a private equity fund expected to raise $2.7bn.

The investment strategy of the KSL fund includes investing in hotels, resorts, clubs, fitness properties and resort real estate globally.