Blackstone Group of New York is looking to raise $15 billion of equity for a new global property fund. According to Bloomberg this would represent a record volume for such a fund. Blackstone is the largest private equity investor in real estate and this new pool of money would provide it with $45 billion in purchasing power. The firm is looking to take advantage of high demand for real estate and record low interest rates. Blackstone is planning to invest 60 percent of its equity in North American and is hoping for net returns of roughly 15 percent.
