Blackstone Announces $20.5 Billion Final Close for Latest Global Real Estate Fund
September 11 2019 - 5:10PM
Business Wire
Blackstone (NYSE:BX) today announced the final close of its
latest global real estate fund, Blackstone Real Estate Partners IX
(“BREP IX”). BREP IX has $20.5 billion of total capital commitments
— the largest real estate fund ever raised. Blackstone is also
currently investing two regional opportunistic funds, the €7.9
billion BREP Europe V and the $7.2 billion BREP Asia II.
Kathleen McCarthy, Global Co-Head of Blackstone Real Estate,
said, “This fundraise reflects the excellent relationships we have
with our limited partners given the strong results the BREP funds
have generated for them since 1991. We are grateful to our
investors for their ongoing support and look forward to putting
this capital to work on their behalf.”
Added Ken Caplan, Global Co-Head of Blackstone Real Estate:
“Despite the challenging investment environment, we continue to see
compelling opportunities around our highest conviction investment
themes. BREP IX’s scale allows us to commit capital globally in a
differentiated set of complex transactions.”
In June, BREP IX committed to its initial investment, the
purchase of GLP’s U.S. Logistics Assets for a total of $19 billion,
alongside other Blackstone vehicles. This acquisition is expected
to close in the coming weeks.
About Blackstone Real
Estate
Blackstone is a global leader in real estate investing.
Blackstone’s real estate business was founded in 1991 and has $154
billion of investor capital under management. Blackstone is one of
the largest property owners in the world, owning and operating
assets across every major geography and sector, including
logistics, multifamily and single family housing, office,
hospitality and retail. Our opportunistic funds seek to acquire
undermanaged, well-located assets across the world. Blackstone’s
Core+ strategy invests in substantially stabilized real estate
globally through regional open-ended funds focused on high-quality
assets, and Blackstone Real Estate Income Trust, Inc. (BREIT), a
non-listed REIT that invests in U.S. income-generating assets.
Blackstone Real Estate also operates one of the leading global real
estate debt businesses, providing comprehensive financing solutions
across the capital structure and risk spectrum, including
management of Blackstone Mortgage Trust (NYSE: BXMT).
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Jennifer Friedman Jennifer.Friedman@blackstone.com Tel: (212)
583-5122
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