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.