(Reuters) – U.S. personal fairness agency Blackstone Group Inc stated on Wednesday it has raised the biggest ever actual property fund, amassing $20.5 billion to be invested in property property all over the world.
Massive buyout corporations comparable to Blackstone have been attracting loads of capital from traders looking for greater returns not obtainable in public markets.
The capital able to be deployed has swollen to over $2 trillion, in response to information supplier Prequin, driving up asset costs and deal making exercise.
Blackstone stated in an announcement the fund, named Blackstone Actual Property Companions IX (BREP IX), has already made its first funding: the acquisition of U.S. industrial warehouse properties from Singapore-based logistics supplier GLP for $18.7 billion.
The deal, through which BREP IX co-invested with different Blackstone funds, was introduced in June and is anticipated to shut in coming weeks, the corporate stated.
Blackstone is the world’s largest different asset supervisor and one of many largest property traders, with $154 billion in actual property property below administration.
Reporting by Chibuike Oguh; Enhancing by Sandra Maler