Blackstone has so far raised $7.9bn (€8bn) for its latest Asia real estate fund, according to a recent SEC filing.

Blackstone declined a request for further comment but had previously disclosed it expected to raise “approximately $9bn” for the Blackstone Real Estate Partners Asia III fund.

Achieving the $9bn target will make the opportunistic Asia real estate fund 30% larger than its predecessor, which raised $7.1bn in 2018.

The final closing date of the latest Asia real estate fund is currently unknown.

The Asia III fund’s backers include the Minnesota State Board of Investment and the New Mexico State Investment Council, committing $100m and $75m respectively.

The fund will be investing in existing assets and developments – through debt and equity acquisitions – in China, India, Japan and Australia. 

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