December 14, 2015 Comments Off on Blackstone Looks to Raise $4B For Debt Fund Views: 703 California News, National News

Blackstone Looks to Raise $4B For Debt Fund

The Blackstone Group is looking to start a $4-billion real estate fund that concentrates on mezzanine-debt funding. Last year, fundraising for private real estate debt hit a record at $24 billion.

The new vehicle is called Blackstone Real Estate Debt Strategies III LP, and it will provide mezzanine funds for high-quality real estate that institutional buyers are pursuing in North America and Europe. Due to the low interest rate environment, Blackstone designated a six percent performance hurdle for the new fund, and there is no cap currently defined.

Blackstone, one of the largest private-equity firms on the globe, has about $10 billion in real estate investments for its clients, who have seen an eight-percent return on their investments.

Read More at Bloomberg Business

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