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.

NYSCRF said it has also made a $500m commitment into Brookfield Infrastructure Fund IV, a global infrastructure fund expected to raise $17bn, including a 25% co-investment from manager Brookfield.

 

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