Blackstone Group closed Blackstone Real Estate Partners VIII at $15.8 billion, hitting its hard cap, a spokesman said.
The opportunistic global real estate fund is “already 20% committed, and we continue to see compelling opportunities to deploy capital,” said Kathleen McCarthy, global chief operating officer of Blackstone’s real estate group, in a news release.
Investors in the fund include the $173.2 billion Florida State Board of Administration, Tallahassee; $90 billion North Carolina Retirement Systems, Raleigh; $182.5 billion New York State Common Retirement Fund, Albany; $131.5 billion Texas Teacher Retirement System, Austin; and $68.1 billion Virginia Retirement System, Richmond.
Predecessor fund Blackstone Real Estate Partners VII closed in 2012 at $13.3 billion.
