Blackstone’s Asia fund set for $5b final close

Visual from Blackstone's real estate strategy video

Blackstone Group LP will hold the final closing of its real estate fund for Asia, within a fortnight. The fund has reached its hard cap of $ five billion, making it the largest ever real estate fund devoted to the continent, a report said.

The vehicle, called Blackstone Real Estate Partners (BREP) Asia, has an investment period of four years; Blackstone has already invested one-third of the fund, so far. The PE firm is unlikely to reopen it to accommodate excess demand from institutional investors, the portal reported

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