Investing
Blackstone’s First Private Equity Fund for Rich Individuals Gets $1.3 Billion
- The fund for the wealthy delayed its debut last year
- Private equity firms pushing to diversify sources of money
Blackstone headquarters in New York.
Photographer: Angus Mordant/BloombergThis article is for subscribers only.
Blackstone Inc. raised $1.3 billion for its first private equity fund for rich individuals, achieving one of the biggest initial hauls for a fund of its kind despite a delayed launch.
The cash pile, disclosed in a filing Monday, underscores the intensifying race among alternative investment firms to court private wealth as key sources of institutional money dry up.