Blackstone raised €9.8bn of total capital commitments at the final close of its latest European real estate fund, Blackstone Real Estate Partners Europe VII (BREP Europe VII).
The company said it was the largest European real estate drawdown fund ever raised based on third-party capital commitments.
In total, Blackstone’s three opportunistic strategies (global, Asia, Europe) have nearly $47bn of available capital.
James Seppala, head of European real estate at Blackstone, said: “We are extremely proud to have raised Europe’s largest real estate drawdown fund ever during what has been a period of exceptional dislocation in the industry, particularly in Europe. The real estate recovery is coming into view and we are grateful that our limited partners have entrusted us with substantial capital to seek to capture opportunities through our time-tested, high conviction investment process.”
