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Latest News  + Alternative Assets  + Markets  + Real Estate  |  November 30, 2023
Blackstone Strategic Partners Closes 8th RE Secondaries Fund at $2.6B
Joe Palmisano
By: Joe Palmisano

Blackstone Closes 8th RE Secondaries Fund at $2.6B

Blackstone announced the final close on $2.6 billion for its latest real estate secondaries fund, Strategic Partners Real Estate VIII L.P., and its related vehicles.

“We have one of the market’s largest real estate portfolios, spanning interests in over 540 underlying real estate funds managed by over 220 GPs. With the growing need for liquidity among GPs and LPs, we are excited about the real estate secondaries market opportunity ahead of us,” said Mark Burton, senior managing director and head of Real Estate Secondaries.

The $1 trillion alternative asset manager’s real estate holdings grew by $9.1 billion in the third quarter alone. One source of dry powder is real estate, where the firm has a $66 billion holding. The firm’s $332 billion real estate portfolio gives the team a competitive advantage.

Blackstone Strategic Partners, founded in 2000, has $68 billion of investor capital under management. It has closed over 2,000 transactions across its private equity, infrastructure, and real estate platforms in illiquid fund investing including secondaries, co-investments and primary advisory.

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About Joe Palmisano

Joe Palmisano is editorial director of Connect Money, where he oversees daily coverage of alternative assets, direct investments, financial advisory and the economy. He brings three decades of experience as a financial journalist, analyst and portfolio manager. Before joining Connect Money, Palmisano wrote for The Wall Street Journal, covering foreign exchange, global fixed-income and equity markets. He later served as a senior research analyst and portfolio manager, producing market analysis and managing foreign exchange and U.S. equity portfolios for FX Concepts. His work has also appeared in SFO Magazine and CMT Association publications. Palmisano earned a bachelor’s degree in finance from The American University and holds the Chartered Market Technician (CMT) designation and is a member of the CFA Institute.
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