Large buyout firms such as Blackstone have been
attracting a lot of capital from investors seeking higher
returns not available in public markets.
The capital ready to be deployed has swollen to over $2
trillion, according to data provider Prequin, driving up asset
prices and deal making activity.
Blackstone said in a statement the fund, named Blackstone Real
Estate Partners IX (BREP IX), has already made its first
investment: the purchase of U.S. industrial warehouse properties
from Singapore-based logistics provider GLP for $18.7 billion.
The deal, in which BREP IX co-invested with other Blackstone
funds, was announced in June and is expected to close in coming
weeks, the company said.
Blackstone is the world's largest alternative asset manager and
one of the biggest property investors, with $154 billion in real
estate assets under management.
(Reporting by Chibuike Oguh; Editing by Sandra Maler)
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