Strategic Partners has eclipsed the hard-cap on its latest secondaries fund after a year of fundraising, US Securities and Exchange Commission filings show.
The Blackstone unit has raised $6.55 billion for Strategic Partners Fund VII through two vehicles.
The fund’s hard-cap is $6.5 billion with a $5.75 billion target, according to documents presented to the Pennsylvania Public School Employees’ Retirement System (PSERS) in February.
The firm has yet to hold a final close on the fund, according to a source familiar with fundraising.
Fund VII has received commitments from 473 investors according to the filings, which also show Merrill Lynch, Pierce, Fenner & Smith, JPMorgan, Compass Group Global Advisors, Credit Suisse, Morgan Stanley Smith Barney, Wells Fargo Investment Institute, UBS and NH Investment & Securities helped place the fund.
Strategic Partners declined to comment.
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