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Blackstone Strategic Partners Closes Eighth Real Estate Secondaries Fund at $2.6 Billion
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Blackstone (BX) closes $2.6 billion for its latest real estate secondaries fund, Strategic Partners Real Estate VIII L.P., and related program vehicles. The company's Global Head of Strategic Partners, Verdun Perry, expressed gratitude to investors and commitment to generating strong risk-adjusted returns. Mark Burton, Senior Managing Director, highlighted the company's substantial scale and private market footprint, positioning them to capitalize on growing opportunities in the real estate secondaries market.
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NEW YORK--(BUSINESS WIRE)--
Blackstone (NYSE:BX) announced the final close on $2.6 billion for its latest real estate secondaries fund, Strategic Partners Real Estate VIII L.P., and its related committed program vehicles.
Verdun Perry, Global Head of Strategic Partners, said: “We are incredibly grateful to our investors for their continued support. We remain committed to generating strong risk-adjusted returns for the millions of beneficiaries that our investors represent. With our substantial scale and private market footprint, we believe we are well-positioned to capitalize on the substantial, and growing, opportunities in the real estate secondaries market.”
Mark Burton, Senior Managing Director and Head of Real Estate Secondaries said: “We have one of the market’s largest real estate portfolios, spanning interests in over 540 underlying real estate funds managed by over 220 GPs. With the growing need for liquidity among GPs and LPs, we are excited about the real estate secondaries market opportunity ahead of us.”
About Blackstone
Blackstone is the world’s largest alternative asset manager. We seek to create positive economic impact and long-term value for our investors. We do this by relying on extraordinary people and flexible capital to help strengthen the companies we invest in. Our over $1 trillion in assets under management include investment vehicles focused on private equity, real estate, public debt and equity, infrastructure, life sciences, growth equity, opportunistic, non-investment grade credit, real assets and secondary funds, all on a global basis. Further information is available at www.blackstone.com. Follow @blackstone on LinkedIn, X (Twitter), and Instagram.
About Strategic Partners
Blackstone Strategic Partners is a global leader in illiquid fund investing including secondaries, co-investments and primary advisory. Founded in 2000, Blackstone Strategic Partners has $68 billion of investor capital under management (as of September 30, 2023) and is one of the most prolific secondary market participants in the world, having closed over 2,000 transactions across its private equity, infrastructure, and real estate platforms, representing more than 5,400 underlying fund interests managed by over 1,600 managers. Blackstone Strategic Partners provides a range of solutions across illiquid asset classes for investors and financial sponsors, including LP liquidity solutions and GP-focused solutions such as GP-led secondaries and co-investments.
What is the latest real estate secondaries fund closed by Blackstone (BX)?
Blackstone (BX) closed its latest real estate secondaries fund, Strategic Partners Real Estate VIII L.P., and related program vehicles, raising $2.6 billion.
Who is the Global Head of Strategic Partners at Blackstone (BX)?
Verdun Perry is the Global Head of Strategic Partners at Blackstone (BX).
What is the size of Blackstone's real estate portfolio?
Blackstone's real estate portfolio spans interests in over 540 underlying real estate funds managed by over 220 GPs.
What did Mark Burton, Senior Managing Director at Blackstone (BX), highlight?
Mark Burton highlighted the company's substantial scale and private market footprint, positioning them to capitalize on growing opportunities in the real estate secondaries market.
blackstone is the world’s largest alternative asset manager. we seek to create positive economic impact and long-term value for our investors, the companies we invest in, and the communities in which we work. we do this by using extraordinary people and flexible capital to help companies solve problems. our $731 billion in assets under management include investment vehicles focused on private equity, real estate, public debt and equity, infrastructure, life sciences, growth equity, opportunistic, non-investment grade credit, real assets and secondary funds, all on a global basis. further information is available at www.blackstone.com. follow blackstone on twitter @blackstone.
