The Blackstone Group Inc. has raised a total of almost $1.9 billion for a set of Asia-focussed real estate funds, as it continues to grow its pile of capital to make property investments in the region.
The world’s biggest manager of alternative assets scooped up the capital for five so-called core-plus real estate funds, according to filings with the US Securities and Exchange Commission.
It mobilised $1.367 billion for Blackstone Property Partners Asia. Blackstone Property Partners funds are part of the PE firm’s core-plus real estate investment strategies. These funds differ from the real estate opportunistic funds housed under Blackstone Real Estate Partners. It also raises debt funds and exchange-traded funds for real estate investments.
It invests in stable assets in prime markets across North America, Europe and Asia. These funds invest with a more modest risk profile.
Blackstone is one of the biggest real estate investors worldwide and has $160 billion of assets under management. It is also one of the biggest investors in India’s property market, and has committed almost $6 billion over the past eight years.