Private equity investment manager Blackstone (BX) completed fundraising on a $13.3 billion global real estate investment fund BREP VII.
In the third quarter alone, Blackstone add $2.2 billion in investment capital for the fund.
Blackstone’s performance fees for its real estate investments are substantially larger than this time last year.
Total real estate investments of $34 billion were up 4.9% for the quarter and 11.6% year-to-date.
Assets under management increased company-wide by 32%. Last year in the third quarter, the company posted a loss of $0.34 per share, compared to a profit of $0.() per share today.
Stephen Schwarzman, Chairman and Chief Executive Officer, said, “Over the past twelve months, we achieved gross organic inflows of $38 billion and returned $14 billion to our
investors, driving us to record total assets under management of $205 billion.”
Here is a look at the real estate portfolio at Blackstone, click to make larger:
