Blackstone Inc. (BX) has announced the final close of its ninth global real estate fund (BREP IX) at $20.5 billion, making it the largest of its kind. The company is also investing in two regional funds: BREP Europe V, valued at €7.9 billion, and BREP Asia II, totaling $7.2 billion.
Kathleen McCarthy, Co-Head of Real Estate at Blackstone, stated that the fundraising reflects the strength of the firm’s investor relationships and their confidence in its consistent performance since 1991.
Co-Head Ken Caplan added that despite ongoing market challenges, attractive investment opportunities remain, supported by the scale of the new fund. BREP IX has already made its first investment through the acquisition of logistics assets from GLP for $19 billion.
About Blackstone Real Estate: The firm manages $154 billion in assets and is considered one of the world’s largest real estate owners across multiple sectors, including logistics, residential, and office properties.
Its strategy focuses on acquiring high-quality, under-managed assets while also investing in stable, premium real estate through various funds, including BREIT.
