Blackstone’s European opportunistic property fund rakes in further capital
New York State Common Retirement Fund (NYSCRF) and South Dakota Investment Council (SDIC) have approved $537.5m (€477.1m) worth of commitments into Blackstone’s latest European opportunistic real estate fund.
NYSCRF has committed €280m and SDIC has committed $222m into the Blackstone Real Estate Partners Europe VI fund, according to both investors.
Europe VI, an opportunistic fund close to raising $10bn, targets single assets and portfolio deals in a variety of property types.
Blackstone declined a request for comment.
NYSCRF has also approved a $10m commitment into the BIG Real Estate Fund I as part of the pension fund’s emerging manager program.
BIG Fund I has a US real estate debt strategy focused on originating, co- originating, acquiring debt and making structured equity investments.