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Blackstone Capital Partners VII raises USD18bn

Blackstone has held the final close os its latest global private equity fund, Blackstone Capital Partners VII (BCP VII) at USD18 billion.

Fundraising began in November 2014 and the fund had a record USD15.7 billion first close in May, seven months after launching. There are more than 250 limited partners from 40 countries in the fund. Demand for the fund was significantly in excess of its hard cap of USD17.5 billion. Taken together with Blackstone and its employees’ commitment of USD500 million, BCP VII will have USD18 billion of available equity capital to invest. Blackstone expects to begin making investments out of this fund during the first quarter of 2016.
 
Joseph Baratta, the global head of Blackstone’s private equity business, said, “We are enormously appreciative of our investors’ trust and strong support of BCP VII. We have an excellent team that is working tirelessly to continue generating favorable long-term returns for our investors.”
 
Blackstone’s private equity business manages more than USD91 billion in equity as of the end of the third quarter 2015.

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