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Blackstone to delay new private client PE fund

Blackstone is considering delaying the launch of a new flagship private equity fund for wealthy investors following heavy investor withdrawals from two other funds aimed at a similar investor base – a real estate vehicle and one private credit fund – according to a report by the Financial Times.

Blackstone is considering delaying the launch of a new flagship private equity fund for wealthy investors following heavy investor withdrawals from two other funds aimed at a similar investor base – a real estate vehicle and a private credit fund – according to a report by the Financial Times.

The New York-based investment manager has been preparing to open a fund called the Blackstone Private Equity Strategies Fund, or BXPE, for individual investors, having historically focused on funds for institutional clients.

The report cites unnamed sources as saying that Blackstone has advised wealthy investors and their financial advisers that it may wait for fundraising conditions and financial markets to improve before launching BXPE. The fund had been expected to launch in early 2023.

Blackstone recently limited withdrawals from the $69 billion Blackstone Real Estate Income Trust after being hit by a spate of redemption requests from wealthy individual investors, while a similar Blackstone private credit-focused fund has also received redemption requests.

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