Blackstone has raised a final total of €5.1bn (£4.2bn) for its fourth European Real Estate Fund – making it the largest dedicated European property fund ever raised.
Kenneth Caplan, head of European real estate at Blackstone, said: “We are hugely grateful to our investors for their continued support.
“The fact that we raised €5bn in just six months from first to final close is testament to the ability of Blackstone’s 60-strong team dedicated to investing in European Real Estate.”
Blackstone is the world’s largest real estate investment manager with $79bn (£47.6bn) under management globally. The company announced plans last year to raise an Asian real estate fund with a target of $4bn, which will focus exclusively on China and other East Asian countries.
If Blackstone hits its capital raising target, the fund will be the largest Asian property vehicle ever, according to Prequin.
Sophia.Furber@estatesgazette.com
