GLOBAL - Blackstone raises $9bn so far for its sixth fund

The private equity giant began fundraising for the fund around two years ago. Though it did not publicly disclose a fundraising target at the time, reports suggest the figure was around $20bn. The firm has most recently said that it aims to raise a vehicle in the low- to mid-teens.

Blackstone also said in November that it has $27bn left to invest from its previous funds, which positions the investor as one to watch this year. The industry is already seeing signs of this: the buyout house has reportedly been in talks with Sir Richard Branson over purchasing Northern Rock's "good bank", and it has made an offer to inject at least £200m into beleaguered gaming group Gala Coral as part of a restructuring deal that would see the firm gain a majority stake.

The private equity firm has also made its intentions public to exit at least eight of its portfolio companies, including entertainment group Merlin and United Biscuits, which it plans to float on the public markets.

These bold and rather public plans for this year have helped the firm raise capital. In October, it was reported that investors were looking to raise their original commitments to its sixth fund. LPs already commited to the vehicle include CalSTERS, which has committed $270m, as well as CPP and CalPERS, which have each promised $500m.

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Send to  

• Topics
• Buyout
• UK / Ireland
• DACH
• Nordics
• France
• Southern Europe
• CEE
• Benelux