Blackstone Raises Two PE Secondary Funds at Record $25B

Blackstone’s Strategic Partners arm closed its latest global secondaries strategy, Strategic Partners IX, and inaugural GP-led continuation fund strategy, Strategic Partners GP Solutions, with commitments of $22.2 billion and $2.7 billion respectively.

SP IX is the world’s largest dedicated secondaries fund ever raised.

Blackstone Strategic Partners is focused on providing a range of liquidity solutions to both investors and private equity sponsors, including single interest and portfolio sales, GP-led secondaries, and co-investments.

“With substantial scale and our multi-strategy footprint, we believe we are well-positioned to capitalize on the vast, and growing, opportunities across the secondary market,” said Verdun Perry, Global Head of Blackstone Strategic Partners.

Founded in 2000, Blackstone Strategic Partners had $67 billion of assets under management as of September 30, 2022. It has closed over 1,900 transactions across its private equity, infrastructure and real estate platforms.

Blackstone’s unlisted real estate income trust also secured a $4 billion investment from the University of California earlier this month.