(Source: Reuters)

U.S. private equity firm Blackstone Group (BX.N) said on Monday it had raised 3.1 billion euros ($4.3 billion) for a fund to invest in property throughout Europe, as it anticipates the sector’s recovery.

The Blackstone Real Estate Partners Europe III fund, which has reached its final close, had initially sought to raise 2.5 billion euros, the company said in a statement.

“(The fund) is well positioned to take advantage of the inevitable recapitalization of the property sector,” Chad Pike, co-head of Blackstone Real Estate, said.

Read Daryl Loo’s full article “Blackstone raises $4.3 billion for Europe property fund” in Reuters (June 29, 2009).

Developments featured in this article

More Like This

Facebook Chatter