Blackstone has received $2.6bn (€2.4bn) in capital commitments for its latest real estate secondaries fund, and its related committed programme vehicles.
The capital has been raised for Strategic Partners Real Estate VIII, the eighth in a fund series that provides a range of solutions across illiquid asset classes for investors and financial sponsors, including limited partner (LP) liquidity solutions and general partner (GP)-focused solutions such as GP-led secondaries and co-investments.
As previously reported, Contra Costa County Employees’ Retirement Association committed $80m (€75.2m) to the fund focused on investments in North America.
Verdun Perry, global head of strategic partners, said: “We are incredibly grateful to our investors for their continued support. We remain committed to generating strong risk-adjusted returns for the millions of beneficiaries that our investors represent.
“With our substantial scale and private market footprint, we believe we are well positioned to capitalise on the substantial and growing opportunities in the real estate secondaries market.”
Mark Burton, senior managing director and head of real estate secondaries, said: “We have one of the market’s largest real estate portfolios, spanning interests in over 540 underlying real estate funds managed by over 220 GPs.
“With the growing need for liquidity among GPs and LPs, we are excited about the real estate secondaries market opportunity ahead of us.”
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