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Blackstone Closes Largest RE Fund Ever at $20B+
Blackstone reached the final close of its latest global real estate fund, Blackstone Real Estate Partners IX (BREP IX). At $20.5 billion of total capital commitments, it’s reportedly the largest real estate fund ever raised.
“Despite the challenging investment environment, we continue to see compelling opportunities around our highest conviction investment themes,” said Ken Caplan, global co-head of Blackstone Real Estate. “BREP IX’s scale allows us to commit capital globally in a differentiated set of complex transactions.”
Co-head Kathleen McCarthy said the successful 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.”
In June, BREP IX committed to its initial investment alongside other Blackstone vehicles: the $19-billion purchase of GLP’s U.S. logistics assets.
Pictured: Blackstone headquarters in Midtown Manhattan.
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