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Laxman Pai, Opalesque Asia:

The private equity giant Blackstone announced the final close of its first growth equity fund - Blackstone Growth - with $4.5 billion in capital commitments from a wide range of family offices, entrepreneurs, endowments, strategic institutional investors, pension funds, and other big wheels.

The US-based investment management firm with $619 billion in assets under management said that the Blackstone Growth (BXG) fund is the "largest first-time growth equity private fund raised in history."

Blackstone Growth, Blackstone's global growth equity business, invests in fast-growing companies, helping them expand their potential through the power of the Blackstone platform. Leveraging Blackstone's extensive operational resources and network, BXG focuses on providing capital to entrepreneurs seeking to minimize the execution risks associated with high-growth environments.

Since it began investing in 2020, the fund has invested in the online dating company Bumble, which recently completed an initial public offering; oat milk pioneer Oatly; enterprise software business, ISN and Epidemic Sound, which delivers music to internet content creators across the globe.

Jon Korngold, Global Head of Blackstone Growth, said: "The scale of the resources, operational expertise and capital that Blackstone can deliver to growth-stage entrepreneurs is a clear differentiator. This new approach to growth equity has already created significant value for the compan......................

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