Blackstone raises $7.5 billion for Strategic Partners Fund VII

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Blackstone Group closed Strategic Partners Fund VII, a global secondary private equity fund, at $7.5 billion, according to a news release.

Blackstone began investing the fund's capital in May.

The prior fund, the $4.4 billion Strategic Partners Fund VI, closed in 2014.

“We are deeply thankful for our investors' continued support and are working diligently to produce long-term returns for them,” said Stephen Can, co-head of Blackstone's Strategic Partners Fund Solutions business, in the release.

Investors in the fund include the $44.4 billion Tennessee Consolidated Retirement System, Nashville, and the $51 billion Pennsylvania Public School Employees' Retirement System, Harrisburg.

Paula Chirhart, senior vice president, global public affairs at Blackstone Group, couldn't provide more information by press time.