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Blackstone breaks $12bn barrier for seventh real estate fund

2 Jul 2012

Global buyout giant Blackstone is believed to have hit the $12bn mark for its latest real estate fund, leaving it less than $1bn to go to reach its $13bn target.

Blackstone Real Estate Partners VII has been fundraising for just over a year, a marked improvement on the four years the firm took to raise its $16bn sixth buyout fund, which closed in January.

Reuters said two people familiar with the matter confirmed Blackstone had raised more than $12bn. The firm declined to comment.

Blackstone’s most recent real estate interest was reportedly a $541m deal for three assets belonging to Indian property developer Unitech in March.

The company denied it had entered talks with the firm to sell two special economic zones in Gurgaon and Noida and a Kolkata technology park, according to India’s Economic Times.

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