Blackstone Nears Close Of $16 Billion Private Equity Fund

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.


In Depth

Q&A: TCA Fund Management's Bob Press on Small-Cap Private Equity

Aug 25 2016 | 8:55pm ET

The emergence of private credit as a replacement for traditional bank financing...

Lifestyle

Kiawah: Island Reversal

Aug 24 2016 | 9:59pm ET

Looking for real estate investments but the typical real estate fare isn’t cutting...

Guest Contributor

Old Hill Partners: Embrace Illiquidity

Aug 9 2016 | 2:39pm ET

The age-old financial concept that higher yields are the result of higher risk and...