Blackstone To Seek $13 Billion For New Global Real Estate Fund

After enjoying huge success from its first foray in the global real estate sector, The Blackstone Group L.P. (NYSE:BX) is gearing up to seek around $13 billion for its next flagship global real estate fund, according to Reuters.

Citing people familiar with the developments, Reuters reports that marketing documents are to be ready in the next few weeks.

Blackstone’s phenomenal success

Real estate has overtaken private equity investment in companies for Blackstone. From buying single-family homes in the United States to distressed commercial property in Europe, the real estate sector turned out to be the most high-profile and lucrative business for The Blackstone Group L.P....