Blackstone Raises €5.1 Billion for Euro Real Estate Fund IV
New York-based Blackstone Group LP has closed its Goliath-like European Real Estate Fund at its cap of €5.1 billion. This is Blackstone’s fourth European real estate fund – also being the largest dedicated European real estate fund the world has seen. Some institutional investors in the real estate fund include, New York State Teachers’ Retirement System, Texas County & District Retirement System, Pennsylvania Public School Employees Retirement System and the North Carolina Retirement Systems.
Blackstone is banking on the limited availability of opportunistic capital in mega transactions.
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