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FUNDRAISING NEWS | February 03, 2025
Tags: Private Equity, Fundraising
Blackstone has secured the assistance of German lender Deutsche Bank for the global distribution of its evergreen private equity fund for qualified investors, Blackstone Private Equity Strategies Fund (BXPE), Citywire reported January 30, citing confirmation from the fund's CEO Viral Patel.
The executive said the world's largest alternative asset manager "has partnerships with pretty much all of the major players in the market" and is continuing to grow its distribution network. The latest collaboration excludes Germany. BXPE provides investors exposure to Blackstone's private equity platform and more than 15 strategies.
In a January 29 filing with the SEC, the fund disclosed selling 11,898,302 units for a combined consideration of $337.6M, which in combination with the first closing on a related feeder vehicle for international investors raised a total of $1.1B. The fund’s aggregate transactional NAV was $7.3B as of year-end 2024.
Under its private equity business, Blackstone has $152B of AUM and $34B of dry powder as of Dec. 31, 2024. As of the close of the third quarter of last year, the private equity giant had more than 88 companies in its portfolio.
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