Blackstone Raises Nearly $3.7B for Second Tactical Opportunities Fund

Dec 22 2015 | 2:34pm ET

Blackstone Group has raised at least $3.69 billion for its second tactical opportunities fund, a multi-asset pool designed to capitalize on opportunistic investment opportunities across capital structures. 

The new fund, named Blackstone Tactical Opportunities Fund II LP, will be managed by David Blitzer within Blackstone’s Tactical Opportunities Group, which closed its first fund in March 2014 with $5.6 billion. As with the first fund, the new one will pursue opportunistic investments across corporate capital structures and multiple asset classes, including credit, real assets and private equity investments. 

The strategy is another example of a major investment manager pursuing an alternative finance strategy that can serve as a provider of capital to companies in lieu of traditional banks, which have pulled back from riskier loans in recent years due to cost and regulatory pressures.  

The amount raised to date was disclosed in a filing with the SEC. Blackstone targeted $7-$8 billion for its second TacOpp fund when news of its launch was first reported in September 2014. 

Blackstone is one of the world’s largest asset management companies, with over $330 billion in AUM deployed across a wide range of global private equity, real estate, public debt and equity, non-investment grade credit, real assets and secondary funds.

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