Tuesday, 31 March 2015
Last updated 13 hours ago
Jul 23 2010 | 1:50pm ET
The Blackstone Group has raised the biggest new buyout fund since the beginning of the financial crisis.
The New York-based private equity fund has closed its sixth fund at $13.5 billion, well ahead of its target, but smaller than the $14 billion BCP V fund. That fund later reopened and netted an additional $6 billion.
“In any environment, $13.5 billion is a great result and gives us plenty of firepower as we have $3 billion from the old fund,” Blackstone President Tony James said.
Blackstone expects to invest the remaining capital from its fifth fund in the fall, when it will begin investing money from the sixth fund. It will focus on Asia and North America, at least until the European economy begins to recover.
BCP VI features additional choices on deal fees not offered on BCP V, Blackstone said.
Mar 9 2015 | 6:35am ET
As more investors look to diversify, many are beginning to use retirement funds to invest in alternative assets such as private equity and real estate. Kelly Rodriques, CEO & President of PENSCO Trust Company, explains how companies can connect with those looking to use their retirement accounts in a different way. Read more…
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…