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Blackstone Raises $15.8 Billion for Latest Global Real Estate Fund

The The Blackstone Group L.P. (NYSE:BX) Group, the world’s largest alternative asset manager, raised $15.8 billion for its latest global real estate fund, Blackstone Real Estate Partners VIII.

At present, the firm is managing two regional opportunistic real estate funds—the $8.2 billion Blackstone Real Estate Partners Europe IV and the $5 billion Blackstone Real Estate Partners Asia.

The alternative asset manager raised more than 90% of the money from institutional investors, according to people familiar with fundraising in March. Blackstone raised the remainder from the individual investors, a process that took longer to complete because of paperwork, said one person to Bloomberg.

Blackstone Global Real Estate Fund is already 20% committed

In a statement, Blackstone’s global head of real estate Jon Gray said, “We are grateful to our limited partners for their continued support, and remain committed to delivering favorable returns. The...