Blackstone Group closed Strategic Partners Fund VI at its hard cap of $4.4 billion, exceeding its $3.5 billion fundraising target, said spokesman Peter Rose in an e-mail.
The fund buys interests in private equity funds and co-investments.
Blackstone Group bought Strategic Partners, a private equity secondary market fund-of-funds business, from Credit Suisse in August 2013. At the time, the group had $10 billion in assets under management. Strategic Partners Fund V closed in 2012 with $2.9 billion.
Investors in Fund VI include the $63.8 billion Minnesota State Board of Investment, St. Paul, and the $50.4 billion Pennsylvania School Employees' Retirement System, Harrisburg.