Blackstone Raises Record $22.2 Billion for Secondaries Fund
- The haul far exceeds firm’s initial target of $13.5 billion
- PE giant raises additional $2.7 billion for a separate fund
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Blackstone Inc. raised a record $22.2 billion for a fund that will acquire stakes from pensions, endowments and other investors as the private equity giant further expands beyond its buyout roots.
The haul, which far exceeds the firm’s initial $13.5 billion target, is the biggest secondaries fund ever raised. It underscores how Blackstone has become a major player in the business of helping investors to dispose of assets that would be otherwise hard to trade.