Blackstone Gets $15.8 Billion for Biggest Ever Real Estate Fund
- One-fifth of the pool is already committed to investments
- Fund is involved in GE Capital, Strategic Hotels deals
This article is for subscribers only.
Blackstone Group LP, the world’s biggest alternative-asset manager, gathered $15.8 billion for the largest fund to invest in global real estate.
The firm collected more than 90 percent of the pool, its eighth fund for global property, from institutions in about four months, a person with knowledge of the matter said in March. The remainder was raised from individual investors, a process that takes longer to complete because of the paperwork involved, the person said.