Blackstone accumulates $1.9 bn as core-plus real estate funds for Asia
By MYBRANDBOOK
The manager of alternative assets, Blackstone Group Inc. has garnered an amount of $1.9 billion for a set of Asia-focussed real estate funds.
As per the US Securities and Exchange Commission, the company has gathered the capital for five so-called core-plus real estate funds
It mobilised $1.367 billion for Blackstone Property Partners Asia and the remaining for four feeder funds, the filings show.
The funds of Blackstone Property Partners are part of PE firm’s core-plus real estate investment strategies. These funds differ from the real estate opportunistic funds housed under Blackstone Real Estate Partners. The PE firm also raises debt funds and exchange-traded funds for real estate investments.
In order to invest in stable assets in important markets like North America, Europe and Asia, the core-plus real estate funds were launched in 2013. These funds invest with a more modest risk profile and lower leverage.
Blackstone says that the core-plus funds generate returns through both current cash flows and value appreciation over the long term and that these funds invest in assets that require relatively limited management.
The fresh fundraising comes just months after Blackstone raised $20.5 billion for the largest global real estate fund, Blackstone Real Estate Partners IX, in September last year. In 2018, the PE firm had also mopped up $7.1 billion for the Blackstone Real Estate Partners Asia II fund, its second property fund for the continent.
Blackstone is one of the biggest real estate investors worldwide and has $160 billion of assets under management. It is also one of the biggest investors in India's property market, and has committed almost $6 billion over the past eight years. The PE firm's India investments have been mostly in office and retail real estate segments.
Blackstone’s recent India real estate activities include buying commercial projects from Mumbai-based Indiabulls Real Estate Ltd and forming an investment platform with Mumbai-based Hiranandani Group to invest in warehousing assets.
Singapore to remove One-Time Passwords from Bank Accounts
According to the Monetary Authority of Singapore, clients who utilise secur...
Is 375 million Airtel subscribers database breached?
When a hacker claims to have accessed and put up for sale a customer databa...
The government of India intends to construct a single portal f
A single portal will be launched by the Indian government to list all of it...
OpenAI offers GPT-4o, a faster model available to all users at
GPT-4o, a faster and more sophisticated AI model, is made available to all...
ICONS OF INDIA : SANDIP PATEL
Sandip Patel is the Managing Director for IBM India & South Asia regio...
Icons Of India : MUKESH D. AMBANI
Mukesh Dhirubhai Ambani is an Indian businessman and the chairman and ...
ICONS OF INDIA : S KRISHNAN
S Krishnan as the secretary for the electronics and information techno...
NPCI - National Payments Corporation of India
NPCI is an umbrella organization for operating retail payments and set...
RailTel Corporation of India Limited
RailTel is a leading telecommunications infrastructure provider in Ind...
IREDA - Indian Renewable Energy Development Agency Limited
IREDA is a specialized financial institution in India that facilitates...
Indian Tech Talent Excelling The Tech World - NIKESH ARORA, Chairman CEO - Palo Alto Networks
Nikesh Arora, the Chairman and CEO of Palo Alto Networks, is steering ...
Indian Tech Talent Excelling The Tech World - REVATHI ADVAITHI, CEO- Flex
Revathi Advaithi, the CEO of Flex, is a dynamic leader driving growth ...
Indian Tech Talent Excelling The Tech World - Rajiv Ramaswami, President & CEO, Nutanix Technologies
Rajiv Ramaswami, President and CEO of Nutanix, brings over 30 years of...