Blackstone Closes Record-Breaking $30B Fund
This investment vehicle marks the largest real estate or private equity drawdown fund ever raised.
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The Blackstone Group has closed Blackstone Real Estate Partners X, a $30.4 billion investment vehicle representing the largest real estate or private equity drawdown fund ever raised, the company said on Tuesday.
Private equity giant Blackstone now has $50 billion of capital commitments across its three opportunistic strategies—Global, Asia and Europe. Blackstone’s real estate funds have delivered a 16 percent net IRR on more than $100 billion investment over the past three decades.
Blackstone Real Estate, which has leaned back from assets facing headwinds, like traditional office and malls, is roughly 80 percent concentrated in rental housing, hospitality, lab office, logistics and data centers.
Sector selection is increasingly critical within real estate as that market bifurcates, Ken Caplan global co-head of Blackstone Real Estate, said in a statement.
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