Blackstone raises $6.9bn

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Blackstone has raised $6.9 billion for its Blackstone Real Estate Partners Europe V, according to a SEC filing. The New York-headquartered firm began fundraising in 2016 with a €7 billion target.

Its previous fund raised $8.3 billion in 2014.

Investors that committed to Blackstone Real Estate Partners Europe V include the San Francisco Employees' Retirement System, the Florida State Board of Administration and the Texas County and District Retirement System.

The fund will target opportunistic opportunities in a diverse number of properties in Europe.