April 11 (Reuters) – Blackstone Inc (BX.N) stated on Tuesday it had raised $30.4 billion for its newest world actual property fund, because the non-public fairness behemoth appears to double down on the business.
The fund, known as Blackstone Actual Property Companions X, is 48% larger than the asset administration big’s earlier actual property fund which closed in 2019.
Blackstone has been focusing its portfolio on logistics, rental housing, hospitality, lab workplace and knowledge facilities, shifting away from property like conventional workplace and malls which can be going through headwinds from a post-pandemic adoption of versatile work and surge in e-commerce.
“Sector choice has by no means been extra essential as we witness the bifurcation of efficiency inside actual property,” Ken Caplan, world co-head of Blackstone Actual Property, stated in a press release.
Blackstone shares had been up practically 1% in premarket buying and selling.
Reporting by Niket Nishant in Bengaluru; Enhancing by Shailesh Kuber
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