Blackstone Seeks $16 Billion For Next Fund

Sep 17 2014 | 1:50pm ET

The Blackstone Group has begun fundraising for its seventh flagship fund, hoping to attract $16 billion in commitments.

The new fund, Blackstone Capital Partners VII, is set to match the size of its predecessor, which took four years to net $16 billion before closing in 2012. But, in spite of a more receptive fundraising environment, Blackstone is still shooting lower than the $21.7 billion raised by its fifth fund in 2007, as well as the $18.4 billion fund raised by Apollo Global Management in January.

In addition to strong investor appetite, Blackstone isn’t likely to face much competition from its peers: In addition to Apollo, the Carlyle Group and Kohlberg Kravis Roberts recently closed new funds.

Blackstone returns to the market after returning some $14.8 billion to investors over the 12 months to June 30. It is also seeking more than $4 billion for an energy fund.


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