Blackstone has announced the final close of its latest global real estate fund, Blackstone Real Estate Partners IX, with $20.5bn (£16.6bn) of total capital commitments.
BREP IX is thought to be the largest real estate fund ever raised.
The investment giant also said it is investing two regional opportunistic funds, the €7.9bn (£7.1bn) BREP Europe V and the $7.2bn BREP Asia II.
Ken Caplan, global co-head of Blackstone Real Estate, said: “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 US Logistics Assets for a total of $19bn, alongside other Blackstone vehicles. This acquisition is expected to close in the coming weeks.
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