Blackstone raises $25bn for private equity secondary funds

Blackstone raises $25bn for private equity secondary funds

Blackstone has announced the final close of its latest global secondaries strategy, Strategic Partners IX (SP IX), and inaugural GP-led continuation fund strategy, Strategic Partners GP Solutions (SP GPS).

SP IX has total commitments of $22.2 billion and SP GPS has total commitments of $2.7 billion, the company said on Wednesday.

SP IX is the world’s largest dedicated secondaries fund raised to-date.

Verdun Perry, Global Head of Blackstone 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 substantial scale and our multi-strategy footprint, we believe we are well-positioned to capitalize on the vast, and growing, opportunities across the secondary market.”

lackstone Strategic Partners is focused on providing a range of liquidity solutions to both investors and private equity sponsors, including single interest and portfolio sales, GP-led secondaries, and co-investments.

Founded in 2000, Blackstone Strategic Partners has $67 billion of investor capital under management (as of September 30, 2022) and has closed over 1,900 transactions across its private equity, infrastructure, and real estate platforms.

Blackstone Real Estate Income Trust also secured a $4 billion investment from the University of California earlier this month.