Blackstone Blather: Expect $12 Billion Fund Close
The Blackstone Group plans to close its latest mega-fund by the end of next month with around $12 billion, according to multiple sources. The vehicle was originally pitched with a $20 billion target in October 2007, and then later downsized to $15 billion. For nearly the past year, it’s been stuck at around $9 billion. The $12 billion figure isn’t definitive, as there still are a bunch of potential LP commitments that need to be hard circled. But it should be pretty close. My initial thoughts were twofold: (1) That’s still a pretty good raise given fundraising market conditions, and (2) It means Blackstone will need to club up for those $10 billion+ mega-deals it likes to do (more Fidelity Nationals, fewer Hiltons).
12 May 2010•1 min read
