Alternative money manager Blackstone announced its latest secondary private equity fund, Blackstone Strategic Partners IX, has closed at $22.2 billion.
The closing marks the new fund as the largest-yet dedicated secondaries fund, Blackstone said in a news release Wednesday.
Blackstone also announced that the fund's general partner-led continuation fund, Blackstone Strategic Partners GP Solutions, has closed at $2.7 billion, bringing the combined total commitments to the two funds to just under $25 billion, the news release said.
The previous fund, Blackstone Strategic Partners Fund VIII along with its related committed program vehicles, closed at over $11 billion in 2019.
Investors in the new fund include the $124.7 billion Minnesota State Board of Investment, St. Paul.