{"id":1004327120,"date":"2019-05-28T04:08:31","date_gmt":"2019-05-28T12:08:31","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004327120"},"modified":"2019-05-28T05:42:45","modified_gmt":"2019-05-28T13:42:45","slug":"blackstone-pursues-multi-billion-cre-fund","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/blackstone-pursues-multi-billion-cre-fund\/","title":{"rendered":"Blackstone Pursues Multibillion CRE Fund"},"content":{"rendered":"<div id=\"attachment_1004327123\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/05\/investment-graphic.jpg\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004327123\" data-attachment-id=\"1004327123\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/blackstone-pursues-multi-billion-cre-fund\/investment-graphic\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/05\/investment-graphic.jpg\" data-orig-size=\"800,620\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;1&quot;}\" data-image-title=\"investment graphic\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;Image courtesy of Pete Linforth via Pixabay.com &lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/05\/investment-graphic.jpg?w=800\" class=\"wp-image-1004327123 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/05\/investment-graphic.jpg\" alt=\"\" width=\"300\" height=\"233\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/05\/investment-graphic.jpg 800w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/05\/investment-graphic.jpg?resize=300,233 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/05\/investment-graphic.jpg?resize=768,595 768w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004327123\" class=\"wp-caption-text\"><em>Image via Pixabay<\/em><\/p><\/div>\n<p>Blackstone is setting its sights on raising $5 billion for its latest real estate debt fund, according to an <a href=\"https:\/\/urldefense.proofpoint.com\/v2\/url?u=https-3A__www.bloomberg.com_news_articles_2019-2D05-2D23_blackstone-2Dtargets-2D5-2Dbillion-2Dfor-2Dlatest-2Dreal-2Destate-2Ddebt-2Dfund&amp;d=DwMFaQ&amp;c=uzNCeyVgxQ-iQAzSk6FAUg&amp;r=SguhRCCccMaGMIz5OHFP9wGXoSbpWwdkqpf_xZorf0g&amp;m=r6D3JHyJi7TOrsJxeYn6XHAzXJ-tjpR1awUnT7M9nMI&amp;s=TEH8hY9FYLcxuYxyRuCa4NN-ClCW0oynLVJ7vsDQDyg&amp;e=\" target=\"_blank\" rel=\"noopener\">article by <em>Bloomberg<\/em><\/a>. The new investment vehicle, Blackstone Real Estate Debt Strategies IV, launches three years after the closing of Blackstone Real Estate Debt Strategies III, which exceeded its target of $4 billion.<\/p>\n<p>Per <em>Bloomberg\u2019s<\/em> reporting, BREDS IV will pursue property-related wagers in public and private debt around the world, with a particular focus on the U.S. The fund has already attracted the attention of the Illinois Municipal Retirement Fund, which publicly disclosed its contribution of $100 million. IMRF is a repeat investor in the BREDS series, having last committed $100 million to BREDS III in a follow-on investment in December 2015.<\/p>\n<h2><strong>Leading the way<\/strong><\/h2>\n<p>Blackstone proves its standing as one of the very top leaders in private real estate funds in the world, practically on a quarterly basis. According to research from Preqin, Blackstone Real Estate Partners Asia II was the second-largest private real estate fund to close in the first quarter of 2018, with a total commitment of approximately $7 billion, and Blackstone Tactical Opportunities RI Fund was the fourth-largest to close in the second quarter of 2018 at $1.2 billion. In the first quarter of 2019, Blackstone Real Estate Partners IX and Blackstone Real Estate Partners Europe VI stood as the top two largest closed-end private real estate funds in the market, targeting $20 billion and $10 billion, respectively. And most recently, Blackstone completed the $22 billion first close for its <a href=\"https:\/\/www.commercialsearch.com\/news\/blackstone-set-to-launch-record-property-fund\/\">Blackstone Capital Partners VIII<\/a> corporate private equity fund, which the global alternative asset management giant expects to be the largest private equity fund ever raised, said Jonathan Gray, Blackstone president &amp; COO, during the company\u2019s first quarter 2019 earnings investor call on April 18, 2019.&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The investment management giant is planning to raise $5 billion for its latest real estate debt fund.<\/p>\n","protected":false},"author":969,"featured_media":1004327123,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21808,21783,23891,21742],"tags":[34873,40011,33129],"class_list":["post-1004327120","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-featured","category-investment","category-national","category-latest","tag-jonathan-gray","tag-preqin","tag-the-blackstone-group"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - 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