UNQUOTE

Blackstone concedes to lower LP fees

  • Gail Mwamba
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Blackstone Group is set to give a higher than traditional percentage of its transaction fees back to its investors, according to reports.

The private equity investor, which specialises in mega deals, has decided to give 65% back to investors in its latest vehicle, Blackstone VI - a move away from the traditional 50%.

The fund, which has been fundraising for over two years, is targeting a $15bn closure on June 30 - and has already attracted about $9bn, according to reports.

The change in fee structure signals a move by the GP to concede to increased broader market LP demands for reduced transaction fees in the private equity market.

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