Blackstone ‘Tac Opps’ Arm Rounds Up $5.2 Billion for New Bets
- Deal targets can blend aspects of buyouts and credit
- Tac Opps has grown into a $34 billion giant within Blackstone
Blackstone headquarters in New York.
Photographer: Michael Nagle/BloombergThis article is for subscribers only.
Blackstone Inc. wrapped up a record $5.2 billion fund for deals that defy easy categorization and aren’t constrained by any particular investment style.
The fund, Blackstone Tactical Opportunities Fund IV, surpassed a $4 billion target for rounding up investor dollars, said a person familiar with the matter. The haul gives Blackstone cash to hunt for deals after banks pulled back from financing following the collapse of three lenders this year.