Strategic Partners deploys $2bn in 2014

The bulk of the capital was deployed during the fourth quarter, according to Blackstone’s earnings statement.

The Blackstone Group’s secondaries arm Strategic Partners invested $2.1 billion of capital last fiscal year, according to Blackstone’s fourth-quarter earnings statement.

The bulk of the capital, $1.3 billion, was deployed during the fourth quarter.

Strategic Partners also realised $401 million of capital during the fourth quarter.

In total, the group has realised $11.5 billion since inception, generating a 1.4x multiple on invested capital as of 31 December. Its unrealised investments have a multiple on committed capital of 1.8x.

In October of last year, Strategic Partners closed its sixth private equity secondaries fund on its $4.4 billion hard-cap. The fund, which was its first under the Blackstone name, began investing in April 2014. Early purchases include stakes in 3i Eurofund III.

The fund also purchased a “very large” portfolio of tail-end fund stakes from Bank of America, Secondaries Investor exclusively reported.

At year-end, Strategic Partners launched its sixth real estate secondaries fund, months after it hired former commercial real estate credit manager Mark Burton as a principal to focus on the strategy.