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Blackstone confirms raising larger, second Asia-focused PE fund
Photo: Bloomberg Premium
US investment major Blackstone Group’s second Asia-focused private equity fund will be “meaningfully larger” than the first fund that raised $2.3 billion in 2018, according to the firm’s president and CEO Jonathan Gray.
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During its Wednesday earnings call, officials at the publicly traded firm emphasized its holdings in logistics, suburban multifamily and life sciences sectors which have performed well despite, or because of, the pandemic.
In December, Blackstone acquired a life sciences portfolio from Brookfield Asset Management for $3.45 billion. It also picked up a 2.1 million-square-foot warehouse portfolio from Iron Mountain for $358 million, adding to its 800 million square feet of logistics holdings.
At 40 percent, the greatest share of holdings in Blackstone’s non-traded real estate income trust, BREIT, is concentrated in multifamily. Those holdings are primarily suburban, garden-style properties, according to a 2020 shareholder letter. The investment vehicle purchased a $550 million Florida mobile home portfolio in September 2020.
Operator
Good day everyone, and welcome to the Blackstone Fourth Quarter and Full-Year 2020 Investor Call hosted by Weston Tucker, Head of Investor Relations. My name is Leslie, and I m the Event Manager. [Operator Instructions]
And I would like to hand you over to your host for today, Weston. Please go ahead.
Weston Tucker
Senior Managing Director, Shareholder Relations
Terrific, thanks, Leslie, and good morning, and welcome to Blackstone s fourth quarter conference call. Joining today are Steve Schwarzman, Chairman and CEO; Jon Gray, President and Chief Operating Officer; and Michael Chae, Chief Financial Officer. Earlier this morning, we issued a press release and slide presentation, which are available on our website. We expect to file our 10-K report later next month. I d like to remind you that today s call may include forward-looking statements, which are uncertain and outside of the firm s control and may differ from actual results materially.
Riding on the heels of hit Spanish show ‘Money Heist,’ the French crime series has topped global viewing rankings, which may hint at a waning of US dominance on the small screen.