Strategic Partners, Blackstone’s secondary and fund solutions business, announced the final close on $1.9 billion for Strategic Partners Real Estate VII L.P. and its related committed program vehicles (collectively SP Real Estate VII).
“This fundraise reflects the strong relationships we have built with our limited partners over the past two decades. We continue to reinforce our position as one of the private market’s most comprehensive sources of liquidity, while maintaining our reputation as a trusted and preferred counterparty,” said Verdun Perry, Senior Managing Director and Global Head of Strategic Partners.
“We have one of the market’s largest real estate portfolios, spanning interests in over 4,500 assets held by over 420 underlying real estate funds. Our ability to partner with both investors seeking liquidity and general partners and operators seeking strategic portfolio solutions will allow us to put capital to work in a wide range of real estate opportunities globally,” said Mark Burton, Senior Managing Director and Head of Strategic Partners Real Estate.
Strategic Partners is a market leader in private fund investing. Since 2000, it has raised $50 billion dedicated to private equity, infrastructure and real estate secondary and fund investing.
Blackstone’s secondary and fund solutions business has executed over 1,450 transactions that represent interests in over 4,000 underlying fund vehicles managed by nearly 1,400 financial sponsors.