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Latest News  + Alternative Assets  + Markets  + Real Estate  | 
Blackstone Strategic Partners Closes 8th RE Secondaries Fund at $2.6B

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 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.