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Fundraising
The firm’s sixth secondaries flagship will be 'meaningfully' larger than its predecessor fund, according co-CEO Erik Hirsch.
Panelists say fundraising growth can boost bidders and cut pricing spreads.
The amount of capital raised for the strategy last year eclipsed the previous $101bn record set in 2020, data from Secondaries Investor shows.
The Blackstone unit previously raised $3.75bn for its third programme focusing on the asset class.
The secondaries giant's ASF IX launched in February 2022 and is seeking north of $20bn.
Banner Ridge reached a $2.15bn final close for its latest flagship fund this year, smashing its $1.4bn target.
The firm's $22.7bn haul this week comes at a time when institutional investors are assessing the opportunity cost of their investments.
Blackstone Strategic Partners tops the list with a record-breaking fundraising for its ninth flagship fund, which amassed $22.2bn.
Two historic fundraises in the space of a week tell us much about where real estate investors see opportunities for returns in a fractured market.
Strategic Partners Real Estate VIII follows vehicles from Ares Management’s Landmark Partners, Partners Group and Goldman Sachs.
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