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Blackstone President: Here's Our New $7.5B Real Estate Fund


After raising a record $15.8B this month, Blackstone, the largest real estate asset manager in the world, is gearing up for a new European property pool, president Tony James says.

In 2014, the NY-based firm raised $7.5B for its fourth European fund, Blackstone Real Estate Partners Europe IV, investing around two-thirds of the fund. Last year was the busiest ever for property deals in Europe.

"In real estate we’re coming to the end of a couple of funds that are chunky funds," James said on a Q3 conference call with investors Thursday. The firm is also raising a new real estate mezzanine-debt fund, he says.

Blackstone plans to ramp up in southern Europe, despite an economic downturn across the continent. Its deals in the region already include warehouses, office buildings, apartments, and commercial- and residential-property loans. [Bloomberg]