Blackstone Real Estate Advisors closed its fourth European real estate fund at capacity – €5.1 billion ($7 billion).
It took just six months from the first close to the final close to raise $7 billion for the Blackstone Real Estate Partners Europe IV, making the opportunistic real estate fund Blackstone’s largest dedicated European property fund, said Kenneth Caplan, senior managing director and head of European real estate, in a company news release.
Among the institutional investors that committed to the fund and their respective allocations:
- $123.9 billion Texas Teacher Retirement System, Austin, $250 million;
- $103 billion New York State Teachers’ Retirement System, Albany, $199 million;
- $50.4 billion Pennsylvania Public School Employees’ Retirement System, Harrisburg, $100 million;
- $28 billion Texas Permanent School Fund, Austin, $75 million; and
- $20.8 billion Texas County & District Retirement System, Austin, $50 million.