Blackstone's bumper $13.3bn fund

摘要

Blackstone has closed its latest global opportunistic real estate fund after raising $13.3bn of equity. Blackstone Real Estate Partners (BREP) VII is the largest real estate opportunity vehicle ever raised. It was launched in April 2011 with an initial target of $10bn. Among the investors are the New Jersey Division of Investment and the Pennsylvania Public School Employees' Retirement System, the National Pension Service of Korea, the Ohio Police & Fire Pension Fund, the Los Angeles Department of Water and Power Employees' Retirement System and China's State Administration of Foreign Exchange.