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The Toronto-headquartered firm has followed its US entry earlier this year with the launch of a European partnership with the New Zealand Superannuation Fund expected to start with a €427m recapitalization deal.
The mega-manager is ahead of schedule on deploying several opportunistic funds and using core-plus capital to close its biggest deals, its COO says.
The firm is raising the $1.75bn hard-capped strategy as a series of separate accounts that could be joined together at a later date.
The vehicle will follow the firm's fourth European value-add fund, which closed on its €2.1bn hard-cap earlier this month.
The Chicago-based firm closed on three funds totaling $3.2bn in three months, benefiting in part from the ‘favorable element’ of the 2021 vintage.
The Korean insurer’s $1bn commitment will initially be allocated to three of the firm’s Asian and European real estate funds.
The firm acquired Chicago-based Home Partners of America for $6bn, giving it a designated SFR platform for the first time since exiting Invitation Homes.
The real estate veteran, who spent 17 years at the Australian firm, was heavily involved in building its China retail business.
With over 20 years of relationship, the Canadian investor has anchored the manager’s first open-ended pan-Asia fund to invest across different sectors.
With nearly $8bn raised last quarter, open-end vehicles accounted for 90% of real estate capital inflows for Blackstone – and it sees room for further growth.
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