Blackstone's new fund tipped to reach $16b
Blackstone Group is set to raise a higher-than-expected $16 billion for its latest fund due to strong investor interest, primarily from sovereign wealth funds, Reuters reported, citing a source familiar with the matter. Last year, Blackstone COO Tony James said the fundraising target was $15 billion.
The private equity firm's new fund would still be substantially smaller than its fifth vehicle, BCP V, which attracted $21.7 billion in 2006 at the height of the credit boom. But the news may mark a turnaround...
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