16 Oct blackstone + fund size
This is a departure from the traditional fundraising model, whereby managers set caps on the size of the fund targeted to allay investor concerns over amassing more capital than they can prudently invest. Blackstone President Jon Gray had said in January the firm expected the fund to exceed $20 billion in size. Blackstone (NYSE: BX) today announced the final close of Blackstone Life Sciences V ("BXLS V"), the inaugural Blackstone fund in Life Sciences.
Blackstone Energy Partners III will be able to start actively investing shortly after closing the round, said the people. This is a departure from the traditional fundraising model, whereby managers set caps on the size of the fund targeted to allay investor concerns over amassing more capital than they can prudently invest.
BXLS V … Blackstone has not set a fundraising target, but it anticipates the buyout fund will overtake Apollo Global Management’s $24.6 billion fund as the largest ever, the source added. Blackstone Group LP is seeking $5 billion for its latest fund that invests in real estate debt, according to a person familiar with the matter. A Blackstone spokeswoman declined to comment on the progress of the fundraising, which was reported earlier by Bloomberg News. New York-based Blackstone, led by co-founder Stephen Schwarzman, expects to conclude the fundraising for what will be its eighth buyout fund later this year, said the source, requesting anonymity as the details are confidential. Its sixth fund, raised in 2011, has a total net IRR of 13 percent. The strong fundraising underscores how investors are brushing aside concerns over the private equity sector overheating, as they search for returns that beat the stock market by a wide margin. New York-based Blackstone, led by co-founder Stephen Schwarzman, expects to conclude the fundraising for what will be its eighth buyout fund later this year, said the source, requesting anonymity as the details are confidential. The firm is a result of The Blackstone Group's acquisition of Clarus Ventures in 2018. According to Cambridge Associates, a private equity investment adviser, the U.S. industry’s average internal rate of return (IRR), a key benchmark for private equity returns, was just under 10 percent in 2015, the most recent year for which it compiled data. Informations sur votre appareil et sur votre connexion Internet, y compris votre adresse IP, Navigation et recherche lors de l’utilisation des sites Web et applications Verizon Media. The firm prefers to invest in companies operating in the life science, pharma, medical device research, biotechnology, and healthcare sectors. Blackstone has a target of reaching $1 trillion in assets under management by 2026. Acquisition prices in leveraged buyouts are rising on the back of increased competition for deals, setting off alarm bells among private equity backers. Last year, it purchased a majority stake in the Financial and Risk business of Thomson Reuters Corp, the parent company of Reuters News, in a $20 billion deal. (Reporting by Joshua Franklin in New York; Additional reporting by Bharath Manjesh in Bengaluru; Editing by Maju Samuel and Nick Zieminski), Blackstone, Macquarie, F2i could team up with CDP in bid for Atlantia motorway stake - source, Blackstone, macquarie, f2i could join italian state lender cdp in bid for atlantia's stake in autostrade, talks at preliminary stage - source.
The industry has raised some $3 trillion from investors since 2012, according to industry tracker Preqin. All quotes delayed a minimum of 15 minutes. At the end of 2018, it had $472.2 billion in total assets under management.
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