PRINT THIS PAGE Blackstone closes largest ever buy-out fund on $21.7bn08/08/2007. Source: AltAssets. 
 US buy-out giant The Blackstone Group has announced that it has closed its new global private equity fund, Blackstone Capital Partners V, on a record-breaking $21.7bn.
The fund was re-opened following a closing on $15.6bn last year.
BCP V will be invested across various sectors and geographical locations.
Investments with a total enterprise value of approximately $84bn have already been committed to BCP V, and include Nielsen Company, Michaels Stores, Alliance Data Systems, Biomet, Freescale Semiconductor, Hilton Hotels, and Center Parcs. The combined equity participation in all transactions committed to date already accounts for two thirds of the fund's available capital.
Stephen A Schwarzman, chairman, CEO and co-founder of Blackstone, said, 'This further vote of confidence from our investors is extremely gratifying. The record-breaking amount of capital at our disposal allows us to continue our leadership role in private equity investing on a global basis.'
Since Blackstone started its private equity investment business in 1987, the firm has raised a total of approximately $67bn for alternative asset investing, making it one of the world's largest independent alternative asset managers. Blackstone also manages approximately $23bn in discretionary marketable alternative asset programmes, approximately $4bn in proprietary hedge funds, and $2bn in mutual funds.
Blackstone's new fund is quite significantly larger than the GS Capital Partners VI fund, which The Goldman Sachs Group recently closed on $20bn and which was the largest private equity fund until Blackstone announced their latest fundraising result.
Blackstone's previous fund, Blackstone Capital Partners IV, closed on $6.5bn in 2002.
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