NEW YORK--(BUSINESS WIRE)--Blackstone (NYSE:BX) today announced that it has held its final close on its second Asian opportunistic real estate fund, Blackstone Real Estate Partners Asia II (“BREP Asia II”), reaching its hard cap. Together with commitments from Blackstone and its affiliates, BREP Asia II has approximately $7.1B of capital commitments.
Chris Heady, Blackstone’s Head of Real Estate Asia, said: “We are deeply grateful for the ongoing trust of our limited partners and continue to see exciting opportunities to deploy capital across the region.”
Kathleen McCarthy, Global Co-Head of Blackstone Real Estate, said: “We are eager to build on the success of our first Asia real estate fund and believe we are well-positioned to capitalize on the continued strong growth the region is experiencing.”
Ken Caplan, Global Co-Head of Blackstone Real Estate, added: “The size of this fund – the largest ever dedicated to real estate investing in Asia – gives us flexibility to pursue a range of opportunities and commit capital with speed and scale.”
About Blackstone Real Estate
Blackstone is a global leader in real estate investing. Blackstone’s real estate business was founded in 1991 and has approximately $120 billion in investor capital under management. Its real estate portfolio includes hotel, office, retail, industrial and residential properties in the US, Europe, Asia and Latin America. It also operates one of the leading real estate finance platforms, including management of the publicly traded Blackstone Mortgage Trust.