News
Blackstone Closes The Largest-Ever European Property Fund
June 11, 2017
Blackstone Group closed on its new European commercial property fund after raising $8.9B (€7.8B) — the most ever raised for such a fund.
Blackstone aims to make double-digit returns by pursuing opportunistic deals that include buying in distressed European markets or acquiring properties in need of repositioning, the Wall Street Journal reports. The fund’s total buying power could near $27B, considering Blackstone typically uses a 70% leverage when making deals.
