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Blackstone moving ahead with retail buyout fund launch

Blackstone Group has revived plans to launch a private equity buyout fund aimed at wealthy individuals after putting the launch of the new vehicle on hold for several months, according to a report by The Financial Times.

The new fund is part of an initiative by the firm to diversify its investor base beyond pensions and endowments and into the private wealth space.

The report cites unnamed sources with direct knowledge of the matter as revealing that the $1tn private investment group will begin taking subscriptions for the Blackstone Private Equity Strategies Fund (BXPE), later this year.

The fund’s launch was delayed last year after Blackstone’s flagship $67bn Breit property fund, which has attracted tens of billions of dollars in investment from individual investors since launching in 2017, was forced to limit redemptions after concerns over commercial property valuations spooked investors.

BXPE will provide the same wealthy individual investors with access to corporate buyout deals, the foundation of Blackstone’s business.

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