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Alternative Assets  + Real Estate  | 
Blackstone Closes Record-Breaking $10.6B European Real Estate Fund

Blackstone Closes Record-Breaking $10.6B European Real Estate Fund

Blackstone has announced the final closing of its latest European real estate fund, Blackstone Real Estate Partners Europe VII, securing a €9.8 billion ($10.6 billion) in total capital commitments. This milestone establishes BREP Europe VII as the largest European real estate drawdown fund ever raised, measured by third-party capital commitments, Blackstone said.

The fund bolsters Blackstone’s three opportunistic real estate strategies—covering global, Asia, and Europe—which together command nearly $47 billion in available capital.

“The real estate recovery is coming into view, and we are grateful that our limited partners have entrusted us with substantial capital to seek to capture opportunities through our time-tested, high conviction investment process,” said James Seppala, head of European real estate, Blackstone.

Blackstone’s real estate business was founded in 1991 and has $315 billion in assets under management.

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About Joe Palmisano

Joe Palmisano is Editorial Director for Connect Money, where he brings nearly three decades experience of market insights as a financial journalist, analyst and senior portfolio manager for leading financial publications, advisory firms, and hedge funds. In his role as Editorial Director, Joe is responsible for the selection of content and creation of daily business news covering the financial markets, including Alternative Assets, Direct Investment and Financial Advisory services. Before joining Connect Money, Joe was a financial journalist for the Wall Street Journal, regularly publishing feature stories and trend pieces on the foreign exchange, global fixed income and equity markets. Joe parlayed his experience as a financial journalist into roles as a Senior Research Analyst and Portfolio Manager, writing daily and weekly market analysis and managing a FX and US equity portfolio. Joe was also a contributing writer for industry magazines and publications, including SFO Magazine and the CMT Association. Joe earned a B.S.B.A. in Finance from The American University. He holds the Chartered Market Technician (CMT) designation and is a member of the CFA Institute.

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