Blackstone Strategic Partners Closes Seventh Real Estate Secondaries Fund at $1.9 Billion
16 Juli 2020 - 2:00PM
Business Wire
Strategic Partners, Blackstone’s (NYSE:BX) secondary and fund
solutions business, announced today the final close on $1.9 billion
for Strategic Partners Real Estate VII L.P. and its related
committed program vehicles (collectively, “SP Real Estate
VII”).
Verdun Perry, Senior Managing Director and Global Head of
Strategic Partners, said: “This fundraise reflects the strong
relationships we have built with our limited partners over the past
two decades. We continue to reinforce our position as one of the
private market’s most comprehensive sources of liquidity, while
maintaining our reputation as a trusted and preferred
counterparty.”
Mark Burton, Senior Managing Director and Head of Strategic
Partners Real Estate said: “We have one of the market’s largest
real estate portfolios, spanning interests in over 4,500 assets
held by over 420 underlying real estate funds. Our ability to
partner with both investors seeking liquidity and general partners
and operators seeking strategic portfolio solutions will allow us
to put capital to work in a wide range of real estate opportunities
globally.”
About Strategic Partners
Strategic Partners is a market leader in private fund investing.
Since 2000, Strategic Partners has raised $50 billion dedicated to
private equity, infrastructure and real estate secondary and fund
investing. Strategic Partners is recognized as an innovative and
market-leading investor, with broad transaction capabilities that
reinforce its established reputation as a nimble and responsive
investor. Strategic Partners has executed over 1,450 transactions
that represent interests in over 4,000 underlying fund vehicles
managed by nearly 1,400 financial sponsors.
About Blackstone
Blackstone is one of the world’s leading investment firms. We
seek to create positive economic impact and long-term value for our
investors, the companies we invest in, and the communities in which
we work. We do this by using extraordinary people and flexible
capital to help companies solve problems. Our $538 billion in
assets under management include investment vehicles focused on
private equity, real estate, public debt and equity, growth equity,
opportunistic, non-investment grade credit, real assets and
secondary funds, all on a global basis. Further information is
available at www.blackstone.com. Follow Blackstone on Twitter
@Blackstone.
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