Blackstone Group held a final close of $20.5 billion on its latest global real estate fund, Blackstone Real Estate Partners IX, the company announced.
The opportunistic real estate fund made its initial investment, the purchase of GLP's U.S. logistics assets for $19 billion, alongside other Blackstone vehicles, in June.
Predecessor fund Blackstone Real Estate Partners VIII closed in 2015 at $15.8 billion.
Investors in the fund include the $216.2 billion New York State Common Retirement Fund, Albany; $206.9 billion Florida State Board of Administration, Tallahassee; $152.5 billion Texas Teacher Retirement System, Austin; $122.2 billion State of Wisconsin Investment Board, Madison; and $97.1 billion Minnesota State Board of Investment, St. Paul.
Blackstone spokeswoman Jennifer Friedman could not be immediately reached for additional comment.