Strategic Partners amasses $7.5bn

Blackstone closes its seventh global secondaries private equity fund.

Blackstone’s Strategic Partners Fund VII has held a final close on its $7.5 billion hard-cap. This is the firm’s seventh global vehicle dedicated to secondaries.

The vehicle, which had originally targeted $5.8 billion, received strong support from investors such as Credit Suisse, the Pennsylvania Public School Employees' Retirement System, Bank of America Merrill Lynch and UBS Global Asset Management.

Strategic Partners Fund VI held a final close on $4.4 billion in October 2014, beating its initial target of $3.5 billion.