Blackstone closes two PE secondary funds at record $25b

Blackstone closes two PE secondary funds at record $25b

The ticker and trading information for Blackstone Group is displayed at the post where it is traded on the floor of the New York Stock Exchange (NYSE) April 4, 2016. REUTERS/Brendan McDermid - RTSDKHE

Blackstone Inc raised a record $25 billion for two funds that dabble in secondaries and co-investments, the asset manager said on Wednesday.

Strategic Partners IX raised $22.2 billion, the world’s largest secondaries fundraise ever, while Strategic Partners GP Solutions raised $2.7 billion.

Blackstone Strategic Partners is its illiquid fund investing arm that provides a range of liquidity solutions to both investors and private equity sponsors.

Founded in 2000, Blackstone Strategic Partners had $67 billion of assets under management as of Sept. 30 last year. It has closed over 1,900 transactions across its private equity, infrastructure, and real estate platforms.

New York-based Blackstone‘s unlisted real estate income trust also secured a $4 billion investment from the University of California earlier this month.


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