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: Reg A+ Will Transform the Alternative Asset Landscape

Jul 7 2015 | 4:03pm ET

In addition to easing capital formation for small companies, Regulation A+ has enormous...

Lifestyle

Fiat Chrysler Files Paperwork For Ferrari IPO

Jul 23 2015 | 5:05pm ET

Italian sportscar maker Ferrari has taken a step closer to a stock market listing...

Guest Contributor

Lifting of Foreign Ownership Limits Signals Sea Change in Vietnam's Capital Markets

Jul 28 2015 | 3:01pm ET

The lifting of restrictions on foreign ownership limits in Vietnam later this year...

 

Editor's Note