Blackstone Inc. has successfully raised $1.29 billion for its evergreen private equity fund, which caters to individuals with a minimum investment of $5 million. This recent accomplishment marks the expansion of the firm's third major investment pool aimed at individual investors.
Blackstone Private Equity Strategies LP Discloses Sales Figure
The renowned fund, Blackstone Private Equity Strategies LP, affiliated with Blackstone BX, +0.11%, has revealed the impressive sales figure. Last year, reports emerged about the fund's fundraising efforts, and now the results have been made public.
The fund currently boasts a portfolio comprising 17 investments and future commitments, amounting to a staggering $1.27 billion. According to the recent filing, these investments and commitments span a wide range of industries, including digital infrastructure, technology, business services, financial services, and aerospace and defense. The portfolio encompasses direct, secondary, and structured investments, among other strategies.
Responding to the Demand for Alternative Investments
Blackstone Private Equity Strategies has been effectively marketed through registered investment advisers and other wealth managers. This surge in interest from affluent individuals seeking to diversify their investment portfolios beyond traditional stocks and bonds has contributed to the success of the fund's fundraising efforts.
The Third Leg of Blackstone's Investment Offerings
Often referred to as the "third leg" of the stool, Blackstone Private Equity Strategies joins forces with Blackstone Real Estate Income Trust (BREIT) and Blackstone Private Credit Fund (BCRED) in expanding the firm's investor base beyond institutions. These three investment avenues exemplify Blackstone's commitment to providing diverse and appealing opportunities for both individual and institutional investors.
Blackstone Real Estate Income Trust Surpasses $66 Billion in Assets
Blackstone Real Estate Income Trust (BREIT) has reached a significant milestone, securing more than $66 billion in assets under management (AUM) as of September 30, 2022. Launched in 2017, BREIT has experienced remarkable growth in just a few short years. In comparison, BCRED, another prominent player in the industry, reported $61.3 billion in AUM during the same period.
Remarkably, Blackstone's firmwide total AUM surpassed a staggering $1 trillion at the close of the third quarter, solidifying its position as a leader in the market. This substantial achievement further demonstrates Blackstone's exceptional track record and expertise in managing assets effectively.
According to data from Hamilton Lane Inc., registered funds catering to individual and smaller institutional investors experienced a remarkable increase of approximately $125 billion in 2022. This surge brought their total AUM to an impressive $425 billion. Such growth is indicative of the trust and confidence investors place in these funds.
Blackstone's Private Equity Strategies Fund presents an exclusive investment opportunity for qualified purchasers. These individuals must possess a minimum of $5 million in investments as specified by U.S. securities laws. On the other hand, BREIT caters to accredited investors, defined as those with at least $1 million in assets outside the value of their primary residence.
A recent Form D filing reveals that as of December 15, Blackstone has successfully raised funds for its Private Equity Strategies Fund. Noteworthy broker dealers associated with the fund include H&L Equities LLC, Merrill Lynch, UBS Financial Services Inc., and Morgan Stanley Smith Barney.
Blackstone's unparalleled success in the real estate investment market continues to attract wealthy investors seeking alternative options for their capital. With $125 billion flowing into this new breed of private-equity funds in 2022 alone, it is evident that this investment avenue holds great appeal for affluent individuals.
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