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World’s Largest Private Equity Manager Nears $5B Long-Term Fund


Blackstone expects to close out its biggest buyout pool ever, Blackstone Core Equity Partners, this month. The fund is based on Warren Buffett’s long-term, buy-and-hold strategy.

The world’s largest private equity manager plans to get about $5B for its first-ever core private equity fund, which the firm plans to invest in larger, well-established companies for over twice the standard holding period of three to five years, Bloomberg reports.

“It was offered very selectively to sophisticated investors,” Blackstone CEO Steve Schwarzman said on an April analysts call. “These are assets we anticipate holding for a long, long time.”

The Blackstone fund is the third fund this year that is designed for longer investments—Carlyle reported a similar $3.3B fund in May, while CVC Capital, Europe’s largest buyout sponsor, has its own $4.4B pool. [Bloomberg]