Blackstones raised an additional $1bn (€922.8m) for its latest European opportunistic real estate fund during the last three months of 2023, the manager disclosed in its fourth quarter of 2023 earnings report.

The latest capital raised for Blackstone Real Estate Partners Europe (BREP) VII during the fourth quarter of the year lifts the total capital commitments to the fund to $5.1bn.

As previously reported, Blackstone is seeking to raise €10bn for BREP VII, a  dedicated Europe opportunistic real estate fund that will acquire under-managed, well-located assets across the continent.   

Blackstone said it also raised an additional $230m for its Blackstone Real Estate Debt Strategies V, during the fourth quarter of 2023.

The global real estate debt fund’s investment focus includes real estate lending, liquid securities, structured solutions to financial institutions and corporate credit.

Blackstone declined a request for further comment.

To read the latest IPE Real Assets magazine click here.

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