Blackstone closes PE secondary funds at record $25 billion

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Blackstone closes PE secondary funds at record $25 billion
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Blackstone Inc raised a record $25 billion for two funds that dabble in secondaries and co-investments, the asset manager said on Wednesday.

Signage is seen outside The Blackstone Group headquarters in Manhattan, New York, U.S., November 12, 2021. REUTERS/Andrew Kellyraised a record $25 billion for two funds that dabble in secondaries and co-investments, the asset manager said on Wednesday., the world's largest secondaries fundraise ever, while Strategic Partners GP Solutions raised $2.7 billion.

Blackstone Strategic Partners is its illiquid fund investing arm that provides a range of liquidity solutions to both investors and private equity sponsors. Founded in 2000, Blackstone Strategic Partners had $67 billion of assets under management as of Sept. 30 last year. It has closed over 1,900 transactions across its private equity, infrastructure, and real estate platforms.

New York-based Blackstone's unlisted real estate income trust also secured a $4 billion investment from the University of California earlier this month.

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