Blackstone’s secondary and fund solutions business Strategic Partners has raised $2.6 billion for its latest real estate secondaries fund.
Blackstone has announced the final close of 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.”
Click here to receive CRE Herald’s weekly newsletter, news alerts and insights!