Blackstone raises $20.5bn for largest-ever real estate fund

Related Asset Managers

Blackstone has closed its largest-ever real estate fund, raising $20.5bn (€18.6bn) for the Blackstone Real Estate Partners IX (BREP) IX fund.

Blackstone’s predecessor BREP VIII fund raised $15.8bn in 2015.

BREP IX will have the same investment strategy as previous funds, seeking large and complex transactions across the globe, including the acquisition of entire real estate companies.

In June, BREP IX committed to its initial investment, acquiring GLP’s US logistics assets for a total of $19bn, alongside other Blackstone vehicles.

Announcing the final close, Kathleen McCarthy, global co-head of Blackstone Real Estate, said: “This fundraise reflects the excellent relationships we have with our limited partners given the strong results the BREP funds have generated for them since 1991.

“We are grateful to our investors for their ongoing support and look forward to putting this capital to work on their behalf.”

Ken Caplan, global co-head of Blackstone Real Estate, said: “Despite the challenging investment environment, we continue to see compelling opportunities around our highest conviction investment themes.

“BREP IX’s scale allows us to commit capital globally in a differentiated set of complex transactions.”

Related images

  • US Real Estate

Have your say

You must sign in to make a comment


Your first step in manager selection...

IPE Quest is a manager search facility that connects institutional investors and asset managers.

  • QN-2563

    Asset class: Mid & Small Cap Equities.
    Asset region: Global.
    Size: USD $130m.
    Closing date: 2019-09-27.

  • QN-2564

    Asset class: Large Cap Growth Equities.
    Asset region: Global Developed Markets.
    Size: USD $130m.
    Closing date: 2019-10-04.

  • DS-2567

    Closing date: 2019-10-02.

  • QN-2569

    Asset class: Local Currency Bonds.
    Asset region: Global Emerging Markets.
    Size: $500m.
    Closing date: 2019-10-10.

Begin Your Search Now