Hedge fund Blackstone Group L.P. announced the closing of Blackstone Real Estate Partners VI (BREP VI) with capital commitments totaling $10.9 billion, creating the largest real estate opportunity fund ever raised.
The new fund has more then 60 investment and asset management professionals with broad experience across most real estate categories, including hotels, office, residential, retail, and other commercial properties.
The hedge fund firm has raised a total of nine real estate funds since inception, both funds for global investing and funds with a specific focus on Western Europe, with total capital commitments of $25.7 billion
Jonathan Gray, Senior Managing Director and New York-based co-head of Blackstone's real estate group, said, "We are delighted to have this vote of confidence from our investors. We believe there should be attractive investment opportunities for this capital given the market dislocation that exists today." Chad Pike, Senior Managing Director and London-based co-head of Blackstone's real estate group added, "With this fund we will be able to enter new markets and expand Blackstone's global investment activities."
The Blackstone Group L.P. 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 funds, funds of hedge funds, mezzanine funds, senior debt vehicles, proprietary hedge funds and closed-end mutual funds.
In the past several years Blackstone has completed a number of major transactions including Equity Office Properties, Hilton Hotels, CarrAmerica, Wyndham Hotels, Trizec Properties and Southern Cross / NHP. The group has completed more then 225 separate investments in North America and Europe with a total transaction value of approximately $132 billion since 1992. Most recently the group opened offices in Tokyo, Mumbai and Hong Kong to expand Blackstone's real estate business in Asia.
2 Apr 2008
Former Secretary of State for Texas To Host Entreprenurial Funding Conference
Hedge fund weath manager CACH Capital Management announced that former Secretary of State for Texas and current co-founder & Chairman Honorable, Geoffrey S. Connor will be a Keynote at the Central Texas Entrepreneur Funding Symposium.
The conference provides entrepreneurs access to experts and information to educate them on how to adequately fund their businesses. His keynote address, "Texas and the Global Economy", will pull from his extensive experience with the process of investment capital procurement, providing entrepreneurs with priceless insight on their funding issues.
The event will include panel sessions as well as breakout sessions. CACH Capital Management President and CEO, Michael Hundley, will be a featured speaker sharing his insight on private equity as an alternative source of funding. Mr. Hundley, a well-regarded and award winning manager in the financial services industry, often consults early stage companies helping them become "capital ready". His expertise in institutional sales and service management extends worldwide.
Central Texas entrepreneurs are already signing up for the Funding Symposium which takes place on April 18th, at the JJ Pickle Center.
CACH Capital Management, LLC, a Texas-based global wealth management firm, manages portfolios, global hedge funds and business advisory services. Each CACH team member has been selected for the specialized expertise he brings to the firm. The human capital of CACH Capital represents over 50 years of investment experience and over 100 years of combined expertise in the business, legal and financial fields.
The conference provides entrepreneurs access to experts and information to educate them on how to adequately fund their businesses. His keynote address, "Texas and the Global Economy", will pull from his extensive experience with the process of investment capital procurement, providing entrepreneurs with priceless insight on their funding issues.
The event will include panel sessions as well as breakout sessions. CACH Capital Management President and CEO, Michael Hundley, will be a featured speaker sharing his insight on private equity as an alternative source of funding. Mr. Hundley, a well-regarded and award winning manager in the financial services industry, often consults early stage companies helping them become "capital ready". His expertise in institutional sales and service management extends worldwide.
Central Texas entrepreneurs are already signing up for the Funding Symposium which takes place on April 18th, at the JJ Pickle Center.
CACH Capital Management, LLC, a Texas-based global wealth management firm, manages portfolios, global hedge funds and business advisory services. Each CACH team member has been selected for the specialized expertise he brings to the firm. The human capital of CACH Capital represents over 50 years of investment experience and over 100 years of combined expertise in the business, legal and financial fields.
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