Blackstone closes real estate opportunity fund at $13.3 billion

Blackstone Group has closed the $13.3 billion Blackstone Real Estate Partners VII, making it the largest real estate opportunity fund raised, confirmed Christine Anderson, Blackstone spokeswoman.

The fund took 13 months to raise.

Investors in the fund include the $53.1 billion Virginia Retirement System, $12 billion New Mexico Public Employees Retirement Association and the $11.5 billion Hawaii Employees' Retirement System.