Blackstone, one of the largest property owners in the world, announced that it closed $20.5 billion for a new real estate fund. This is the largest real estate fund ever raised. The company has $154 billion in real estate investor capital under management.
“This fundraise reflects the excellent relationships we have with our limited financial partners given the strong results BREP (Blackstone Real Estate Partners) funds have generated for them since 1991,” said Kathleen McCarthy, Global Head of Blackstone Real Estate.