Saturday, 4 July 2015
Last updated 9 hours ago
Jul 14 2008 | 12:48pm ET
The Blackstone Group is set to hold a first close of its latest private equity fund on July 25, three months later than originally planned.
The p.e. giant expects to have a first closing for Blackstone Capital Partners VI at between $6 billion and $7 billion, LBO Wire reports. The firm hopes to raise $20 billion for the fund, the successor to Blackstone Capital Partners V, the largest private equity fund launch in history, which closed with $21.7 billion last year.
The difficult market conditions for p.e. investing and the credit crunch are reportedly only part of the reason that Blackstone has had a tough time raising money for the new fund. LBO Wire reports that some investors have balked at the deal fees the new fund charges, which are significantly higher than industry norms.
May 27 2015 | 2:15pm ET
Support Hedge Funds Care, also known as Help For Children (HFC), by participating in this year's raffle. All proceeds go to support HFC's mission of preventing and treating child abuse. Read more…