Blackstone Strategic Partners Closes Eighth Fund at $11.1 Billion

Strategic Partners, Blackstones (NYSE:BX) secondary and fund solutions business, announced today the final close on over $11 billion for Strategic Partners VIII L.P. and its related committed program vehicles (collectively, SP VIII).

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Business Wire, Inc.
Retrieved on: 
Wednesday, July 17, 2019
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Banking, Professional services, Finance, Finance, Money, Economy, Alternative investment management companies, Private equity secondary market, Private equity, Lexington Partners, The Blackstone Group, Strategic Partners, Blackstone
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NEW YORK, United States
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STRATEGIC PARTNERS, BLACKSTONE
Summary
Key Points: 
  • Strategic Partners, Blackstones (NYSE:BX) secondary and fund solutions business, announced today the final close on over $11 billion for Strategic Partners VIII L.P. and its related committed program vehicles (collectively, SP VIII).
  • Jon Gray, President of Blackstone, said: Strategic Partners continues to deliver outstanding results for investors in the secondary market.
  • Since 2000, Strategic Partners has raised over $43 billion dedicated to private equity, infrastructure and real estate secondary and fund investing.
  • Strategic Partners has executed over 1,300 transactions that represent interests in approximately 3,600 underlying fund vehicles managed by nearly 1,300 financial sponsors.


Strategic Partners, Blackstone’s (NYSE:BX) secondary and fund solutions business, announced today the final close on over $11 billion for Strategic Partners VIII L.P. and its related committed program vehicles (collectively, “SP VIII”). Strategic Partners is one of the world’s largest global secondary platforms, providing investors the opportunity to monetize and manage their illiquid investment holdings. Similar to past funds, SP VIII’s diversified investor base comprises pension funds, sovereign wealth funds, financial institutions, endowments, foundations, family offices and high net worth individuals from over 30 countries.

Jon Gray, President of Blackstone, said: “Strategic Partners continues to deliver outstanding results for investors in the secondary market. That consistent performance and the strength of our global franchise have led to this terrific capital raise.”

Verdun Perry, Senior Managing Director and Global Head of Strategic Partners, said: “We are grateful to our new and existing investors for the support they have shown us. We are proud of the platform we have created and, coupled with our deep transaction experience and industry leading private equity portfolio, are well positioned to continue to build off this solid success.”

About Strategic Partners

Strategic Partners is a market leader in private fund investing. Since 2000, Strategic Partners has raised over $43 billion dedicated to private equity, infrastructure and real estate secondary and fund investing. Strategic Partners is recognized as an innovative and market-leading investor, with broad transaction capabilities that reinforce its established reputation as a nimble and responsive investor. Strategic Partners has executed over 1,300 transactions that represent interests in approximately 3,600 underlying fund vehicles managed by nearly 1,300 financial sponsors.

About Blackstone

Blackstone is one of the world’s leading investment firms. We seek to create positive economic impact and long-term value for our investors, the companies we invest in, and the communities in which we work. We do this by using extraordinary people and flexible capital to help companies solve problems. Our asset management businesses, with $512 billion in assets under management, include investment vehicles focused on private equity, real estate, public debt and equity, non-investment grade credit, real assets and secondary funds, all on a global basis. Further information is available at www.blackstone.com. Follow Blackstone on Twitter @Blackstone.

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