Blackstone's sixth fund on track with $13.5bn
Blackstone Group said it has raised $13.5bn so far for its sixth private equity fund, BCP VI. Last year, Blackstone had lowered its initial $20bn target to between $15bn-20bn.
In a conference call on Thursday, CEO Stephen Schwarzman said the fund is nearing its final close, with its investment period due to start when capital from the previous fund has been used up. The fund's predecessor closed on $21.7bn in 2006 and has roughly $1bn in uncommitted capital remaining.
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