Blackstone Real Estate closed its second Asian opportunistic real estate fund, Blackstone Real Estate Partners Asia II. With commitments from Blackstone and its affiliates, BREP Asia II has approximately $7.1bn of capital commitments. Roughly two-thirds of the private equity fund, as well as the contribution from its global fund, will be used to invest in China and India. The fund will focus on buying controlling or significant minority stakes in sectors such as healthcare, high-end manufacturing and services as well as goods and services geared to consumers who want to upgrade their lifestyles.
โThe size of this fund โ the largest ever dedicated to real estate investing in Asia โ gives us flexibility to pursue a range of opportunities and commit capital with speed and scale,โ said Ken Caplan, global co-head of Blackstone Real Estate.
