Blackstone closed Blackstone Tactical Opportunities Fund IV with $5.2 billion in commitments, a spokesman said Monday.
Blackstone is also raising separately managed accounts with the same strategy. When those separately managed accounts hold their final close, Blackstone officials expect to raise, together with fund IV, which has held a final close, $10 billion in total capital, according to a news release issued on Monday. The spokesman declined comment on the separately managed accounts.
Blackstone's fourth tactical opportunities fund surpassed its predecessor, $4.2 billion Blackstone Tactical Opportunities Fund III.
BTO IV, which had its first commitment in August 2021, according to a SEC filing, has already made investments including CoreWeave, a specialized provider of critical cloud infrastructure and New Tradition, an out-of-home media business that operates advertising assets including One Times Square in New York City and The Reef in Los Angeles.
Investors in Blackstone's latest flagship fund include $315.6 billion California State Teachers' Retirement System, West Sacramento; $148.8 billion State of Wisconsin Investment Board, Madison; $88.7 billion New Jersey Pension, Trenton; $38.1 billion Indiana Public Retirement System, Indianapolis; and $24.5 billion Louisiana Teachers' Retirement System, Baton Rouge.
