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BREP Europe VI holds $8.4 billion first close

Blackstone held a $8.4 billion first close for its diversified European real estate fund, Blackstone Real estate Partners Europe VI, during the second quarter of 2019. According to the firm’s earnings call Thursday. 
The New York based private equity real estate giant has now raised most of the $10 billion target for its sixth fund in the opportunistic European fund series. The fund has received commitments from a diversified institutional investor base that include US public pension New York State Common Retirement Fund, insurance company Cathay Life Insurance and endowment University of Houston System, according to PERE data. 
In earnings call in April, Blackstone’s chief operating officer and president Jon Gray said the firm expected to raise the majority of BREP Europe VI’s capital in the coming weeks. Blackstone did not indicate when a final close would be held. 
Source: PERE News, 19 July 2019 (https://www.perenews.com/brep-europe-vi-holds-8-4-billion-first-close/ )