
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.
