June 13, 2018 / 1:32 AM / 8 days ago

Blackstone says raises more than $9 billion in new Asia funds

HONG KONG, June 13 (Reuters) - Blackstone Group LP has raised about $9.4 billion in new Asia-focused funds, the U.S. private equity firm said on Wednesday, adding to a massive pool of money for acquisitions and investments in the region.

Blackstone has closed its first Asian private equity fund at about $2.3 billion, while it also separately raised $7.1 billion for its second regional “opportunistic” real estate fund, the firm said in two separate statements.

The firm’s real estate business was founded in 1991 and has about $120 billion in capital under management globally. The portfolio includes hotel, office, retail and industrial properties in the United States, Europe, Asia and Latin America.

Reporting by Sumeet Chatterjee and Kane Wu; Editing by Edwina Gibbs

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