Blackstone recently announced the final close on $2.6 billion for its latest real estate secondaries fund, Strategic Partners Real Estate VIII L.P., and its related committed program vehicles.
Blackstone is known as the world’s largest alternative asset manager. And the firm seeks to create a positive economic impact and long-term value for investors. Blackstone oversees over $1 trillion in assets under management, including investment vehicles focused on private equity, real estate, public debt and equity, infrastructure, life sciences, growth equity, opportunistic, non-investment grade credit, real assets, and secondary funds – all globally.
Blackstone’s Strategic Partners operations are a global leader in illiquid fund investing, including secondary, co-investments, and primary advisory. Launched in 2000, Blackstone Strategic Partners has $68 billion of investor capital under management (as of September 30, 2023), and it is one of the most prolific secondary market participants in the world, having closed over 2,000 transactions across its private equity, infrastructure, and real estate platforms, representing more than 5,400 underlying fund interests managed by more than 1,600 managers. Blackstone Strategic Partners offers a range of solutions across illiquid asset classes for investors and financial sponsors, including LP liquidity solutions and GP-focused solutions such as GP-led secondaries and co-investments.
KEY QUOTES:
“We are incredibly grateful to our investors for their continued support. We remain committed to generating strong risk-adjusted returns for the millions of beneficiaries that our investors represent. With our substantial scale and private market footprint, we believe we are well-positioned to capitalize on the substantial, and growing, opportunities in the real estate secondaries market.”
— Verdun Perry, Global Head of Strategic Partners
“We have one of the market’s largest real estate portfolios, spanning interests in over 540 underlying real estate funds managed by over 220 GPs. With the growing need for liquidity among GPs and LPs, we are excited about the real estate secondaries market opportunity ahead of us.”
— Mark Burton, Senior Managing Director and Head of Real Estate Secondaries
