Blackstone Announces $8 Billion Final Close of Second Core Private Equity Fund
Blackstone (NYSE: BX) has announced the final close of its second vintage long-hold private equity strategy, Blackstone Core Equity Partners (BCEP II), reaching a hard cap of $8 billion, over 70% larger than its predecessor. This marks the largest capital raised from external investors for a long-hold private equity vehicle ever. The strategy, initiated in 2014, aims at investing in high-quality companies for extended periods. Blackstone's private equity arm manages $184 billion in assets and has a history of identifying value and enhancing company performance.
- BCEP II closed at its hard cap of $8 billion, indicating strong investor confidence.
- The fund is over 70% larger than its predecessor, demonstrating significant growth.
- Blackstone's private equity business has raised the largest private equity fund and life sciences private fund in history over the past year.
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NEW YORK--(BUSINESS WIRE)--Blackstone (NYSE: BX) today announced the final close of the second vintage of its long-hold private equity strategy, Blackstone Core Equity Partners (BCEP II). BCEP II was oversubscribed and closed at its hard cap of
Initial discussions with investors for establishing Blackstone’s core private equity business began in 2014, which led to the first close of the first vintage of this strategy in 2016. This platform is designed to hold investments for longer periods than traditional private equity and targets investing in high-quality, market-leading companies.
Joe Baratta, Blackstone’s Global Head of Private Equity, said: “We are grateful for the strong vote of confidence from our investors. The success of our pioneering Core Private Equity platform is a testament to the quality and depth of our private equity team. The current volatile and unpredictable environment reinforces the importance of investing in very high-quality companies with a long-term focus.”
Blackstone’s private equity business has a wide range of dedicated strategies focusing on traditional corporate private equity, core private equity, Asia, energy, and life sciences – all at scale on a global basis. In the last year, Blackstone has raised the largest private equity fund and largest life sciences private fund in history.
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