NEW YORK—Blackstone says it has closed its fourth European Real Estate Fund at its cap of $7 billion (€5.1B). This makes it the largest-ever dedicated European Real Estate fund.
“We are hugely grateful to our investors for their continued support,” Ken Caplan, head of European Real Estate at Blackstone. “The fact that we raised €5 billion in just six months from first to final close is testament to the ability of Blackstone's 60-strong team dedicated to investing in European Real Estate. We have a successful 17-year track record in Europe and are excited about the opportunities to continue executing investments across Europe, delivering unparalleled speed and certainty to sellers and the expertise to add value to our properties.”
Blackstone is a global leader in real estate investing. Founded in 1991, Blackstone's real estate business is the largest opportunistic real estate investment manager in the world, with more than $79 billion in investor capital under management. Blackstone's portfolio includes hotel, office, retail, industrial and residential properties in the US, Europe and Asia.