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Blackstone raises €7.8bn

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Blackstone has raised €7.8 billion to date for its Real Estate Partners Europe Fund V. The New York-headquartered firm has set a €7 billion target and began fundraising in 2015.

Commitments to the fifth vehicle include $300 million from the South Dakota Investment Council; $300 million from the Teacher Retirement System of Texas; $110 million from SFERS; and $100 million each from the Florida State Board of Administration and the California State Teachers’ Retirement System.

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