Blackstone plans $5bn Europe fund

摘要

Blackstone's real estate arm aims to raise $5bn for its new European fund. This would make it the largest fund being marketed targeting Europe. As revealed by Property Week in February, the private equity giant is preparing its fourth dedicated European fund. The fund hopes to capitalise on the continued deleveraging in the European banking and property market. Its third European fund, which raised €3.1bn of equity, is understood to be nearly fully invested. The fund's spending included £480m on Chiswick Park in January 2011, £330m on Devonshire Square in the City last April and £265m on the Adelphi building in the West End last June.