Blackstone has announced the final close of its latest real estate secondaries fund, Strategic Partners Real Estate VIII L.P., and related committed program vehicles, at $2.6 billion. This makes it the fourth largest real estate secondaries fund on record according to PEI Group.
Global head of Blackstone Strategic Partners, Verdun Perry stated that they are grateful for their investors’ continued support and remain dedicated to generating strong risk-adjusted returns for their beneficiaries. With a significant scale and presence in the private market, they believe they are well-positioned to take advantage of opportunities in the growing real estate secondaries market.
Senior managing director and head of real estate secondaries Mark Burton added that Blackstone has one of the largest portfolios in this market with interests in over 540 underlying funds managed by 220 GPs. They see potential for growth as there is an increasing need for liquidity among GPs and LPs.
