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Alternative Assets  + Real Estate  |  April 11, 2025
Blackstone Closes Record-Breaking $10.6B European Real Estate Fund
Joe Palmisano
By: Joe Palmisano

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 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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