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Blackstone Strategic Partners Closes Record Private Equity Secondary Funds at $25 Billion
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Blackstone (NYSE:BX) has successfully closed its Strategic Partners IX and Strategic Partners GP Solutions, achieving commitments of $22.2 billion and $2.7 billion, respectively. SP IX is noted as the largest dedicated secondaries fund ever raised. Over the past decade, Blackstone Strategic Partners has expanded from less than $10 billion to $67 billion in assets under management across various strategies. Verdun Perry emphasizes a commitment to generating strong returns for investors while capitalizing on growing opportunities in the secondary market.
Positive
Successfully raised $22.2 billion for Strategic Partners IX, the world's largest dedicated secondaries fund.
Secured $2.7 billion in commitments for Strategic Partners GP Solutions.
Increased assets under management from $10 billion to $67 billion in nearly 10 years.
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None.
NEW YORK--(BUSINESS WIRE)--
Blackstone (NYSE:BX) today announced the final close of its latest global secondaries strategy, Strategic Partners IX, and inaugural GP-led continuation fund strategy, Strategic Partners GP Solutions (together with their related committed program vehicles, “SP IX” and “SP GPS” respectively). SP IX has total commitments of $22.2 billion and SP GPS has total commitments of $2.7 billion. SP IX is the world’s largest dedicated secondaries fund raised to-date.
Blackstone Strategic Partners is focused on providing a range of liquidity solutions to both investors and private equity sponsors, including single interest and portfolio sales, GP-led secondaries, and co-investments. In the nearly 10 years since joining Blackstone, the business has grown from less than $10 billion to $67 billion of assets under management across its private equity, real estate, infrastructure and GP-led strategies.
Verdun Perry, Global Head of Blackstone Strategic Partners, said: “We are incredibly grateful to our investors for their continued support. We remain committed to generating strong risk-adjusted returns for the millions of beneficiaries that our investors represent. With substantial scale and our multi-strategy footprint, we believe we are well-positioned to capitalize on the vast, and growing, opportunities across the secondary market.”
About Blackstone Strategic Partners
Blackstone Strategic Partners is a global leader in illiquid fund investing including secondaries, co-investments and primary advisory. Founded in 2000, Blackstone Strategic Partners has $67 billion of investor capital under management (as of September 30, 2022) and is one of the most prolific secondary market participants in the world, having closed over 1,900 transactions across its private equity, infrastructure, and real estate platforms, representing more than 5,100 underlying fund interests managed by over 1,550 managers. Blackstone Strategic Partners provides a range of solutions across illiquid asset classes for investors and financial sponsors, including LP liquidity solutions and GP-focused solutions such as GP-led secondaries and co-investments.
