Delayed First Close At $7B For Blackstone Fund

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.


In Depth

Q&A: Fund Administration Comes To The Cloud

Jul 14 2017 | 7:23pm ET

The fund administration sector has been steadily implementing new technology, such...

Lifestyle

CFA Institute To Add Computer Science To Exam Curriculum

May 24 2017 | 9:25pm ET

Starting in 2019, financial industry executives sitting for the coveted Chartered...

Guest Contributor

Rastegar: PE Real Estate Gains Momentum as Uncertainty Rises

Jul 21 2017 | 6:04pm ET

The steady march of equity markets and fundamental shift in the direction of Fed...

 

From the current issue of