Saturday, 31 January 2015
Last updated 18 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.
Jan 23 2015 | 1:00pm ET
In our new section, FINtech Focus, we will profile one of these firms each week. While fintech is a broad category, we will be focusing on firms that specifically cater to the alternative investment industry. Read more…