Blackstone has held a final close of Blackstone Capital Partners VII (BCP VII) with $18 billion in capital commitments. Fundraising began in November 2014 and the fund had a $15.7 billion first close in May, seven months after launch. BCP VII has more than 250 limited partners from 40 countries.
Demand for the fund was in excess of its hard cap of $17.5 billion. Taken together with Blackstone and its employees’ commitment of $500 million, BCP VII will have $18 billion of available equity capital to invest. Blackstone expects to begin making investments out of this fund during the first quarter of 2016.
Blackstone is one of the world’s largest investment and advisory firms. The firm’s alternative asset management businesses include the management of private equity funds, real estate funds, hedge fund solutions, credit-focused funds and closed-end funds. Blackstone also provides various financial advisory services, including financial and strategic advisory, restructuring and reorganization advisory and fund placement services.
Blackstone’s private equity business in total manages more than $91 billion in equity as of the end of the third quarter 2015. Blackstone is headquartered in New York (www.blackstone.com).
© 2015 PEPD • Private Equity’s Leading News Magazine • 12-14-15