Blackstone Group closed long-hold buyout fund Blackstone Core Equity Partners II at its hard cap of $8 billion, according to a news release Monday.
The inaugural fund, Blackstone Core Equity Partners I, closed at $4.75 billion in 2016, a Blackstone Group spokesman said.
Blackstone said the fund, which is designed to hold investments for longer periods than the traditional buyout fund, represents the most capital ever committed to a long-hold fund.
The fundraising target was not disclosed.
Investors include the $416.9 billion California Public Employees' Retirement System, Sacramento, and the $257.9 billion California State Teachers' Retirement System, West Sacramento.
