US private equity firm Blackstone has raised €7.8 bn at its final close on its fifth European opportunistic real estate fund, Blackstone Real Estate Partners Europe V (BREP Europe V).
The combined commitments from Blackstone and its affiliates make it the largest ever dedicated European real estate fund.
'The fund is already over 20% invested or committed, and we continue to see compelling opportunities to deploy capital across the Continent, while delivering certainty to sellers and adding value to our properties,' commented Anthony Myers, Blackstone’s head of Real Estate Europe.
Blackstone, which currently has approximately $102 bn in real estate assets under management worldwide, invests in office, retail, industrial, hotel, and residential properties in the US, Europe, Asia and Latin America.
