Blackstone raises $2.3bn

The New York-based investment firm closes first Asia-dedicated PE fund.

Blackstone has held a $2.3 billion final close for the Blackstone Capital Partners Asia Fund I, the manager’s first Asia-dedicated buyout fund.

Known Investors of the fund include Washington State Investment Board and Houston Firefighters’ Relief and Retirement Fund.

The firm will use the capital to make buyout investments in manufacturing, healthcare and consumer goods, with geographic preference to China and India.

Blackstone also closed its largest ever Asia-dedicated real estate fund on $7.1 billion this week.