Tuesday, 29 July 2014
Last updated 3 hours ago
Jan 6 2012 | 9:12am ET
The Blackstone Group will close one of the largest private equity funds ever raised next week.
In four years of fundraising for Blackstone Capital Partners VI, the p.e. giant garnered just over $16 billion, Reuters reports. The fund began investing last January; Blackstone had predicted that it would raise about $15 billion.
Blackstone CEO Steven Schwarzman said he expects that BCP VI will be the largest p.e. fund raised over the next two to three years. Its final close is scheduled for Jan. 7, one year after it began investing.
BCP VI is the sixth-largest p.e. fund ever raised, according to Prequin. It's predecessor, Blackstone Capital Partners V, is the largest, having raised $21.7 billion.
BCP VI's investors include some of the largest institutional investors in the world, among them the California Public Employees' Retirement System, Canada Pension Plan Investment Board and New Jersey Division of Investment. The fund has already invested more than $620 million of its capital.
Jul 8 2014 | 10:48am ET
The surge in derivatives regulation is among the most complex challenges facing the financial services industry today. Northern Trust’s Joshua Satten recently spoke with FINalternatives to share insights into the challenges presented by new regulation and explore how the industry is responding. Read more…