Blackstone Private Equity Fund Closes on $21.7 Billion
The Blackstone Group (NYSE: BX) today announced the final closing
of its latest global private equity fund, Blackstone Capital Partners
V (BCP V).
Together with previously announced commitments this closing brings
total commitments to $21.7 billion. BCP V, like its predecessor funds,
will be invested across a broad range of sectors and geographical
locations.
Investments with a total enterprise value of approximately $84
billion, have already been committed to BCP V, and include Nielsen
Company, Michaels Stores, Alliance Data Systems, Biomet, Freescale
Semiconductor, Hilton Hotels, and Center Parcs. The combined equity
participation in all transactions committed to date already accounts
for two-thirds of the fund's available capital.
Since The Blackstone Group started its private equity investment
business in 1987, the firm has raised a total of approximately $67
billion for alternative asset investing, making it one of the world's
largest independent alternative asset managers. Blackstone also
manages approximately $23 billion in discretionary marketable
alternative asset programs, approximately $4 billion in proprietary
hedge funds, and over $2 billion in mutual funds.
Blackstone's private equity business currently has investments in
49 portfolio companies with combined annual revenues in excess of $90
billion employing over 500,000 people around the globe.
Stephen A. Schwarzman, Chairman, CEO and Co-Founder of The
Blackstone Group, said, "This further vote of confidence from our
investors is extremely gratifying. The record-breaking amount of
capital at our disposal allows us to continue our leadership role in
private equity investing on a global basis."
The Blackstone Group was assisted in its fund-raising by Park Hill
Group, a Blackstone affiliate.
About The Blackstone Group
The Blackstone Group is a leading global alternative asset manager
and provider of financial advisory services. Its alternative asset
management businesses include the management of corporate private
equity funds, real estate opportunity funds, funds of hedge funds,
mezzanine funds, senior debt vehicles, proprietary hedge funds and
closed-end mutual funds. The Blackstone Group also provides various
financial advisory services, including corporate and mergers and
acquisitions advisory, restructuring and reorganization advisory and
fund placement services. Further information is available at
www.blackstone.com.
This release does not constitute an offer of any Blackstone fund.