Blackstone closes record €5.1b European property fund

Blackstone has closed its fourth European real estate fund on €5.1 bn - the largest amount ever raised for a European real estate fund.

Ken Caplan, head of European Real Estate at Blackstone, said: 'The fact that we raised €5 bn in just six months from first to final close is testament to the ability of Blackstone’s 60-strong team dedicated to investing in European Real Estate. We have a successful 17-year track record in Europe and are excited about the opportunities to continue executing investments across Europe, delivering unparalleled speed and certainty to sellers and the expertise to add value to our properties.'

Founded in 1991, Blackstone's real estate business is the largest opportunistic real estate investment manager in the world, with more than $79 bn (€57 bn) in investor capital under management. Blackstone's portfolio includes hotel, office, retail, industrial and residential properties in the US, Europe and Asia.