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Laxman Pai, Opalesque Asia:

American alternative investment management company Blackstone raised a record $25 billion for two funds that dabble in secondaries and co-investments.

According to a press release from the asset manager Strategic Partners IX raised $22.2 billion, the world's largest secondaries fundraise ever, while Strategic Partners GP Solutions raised $2.7 billion.

New York-based Blackstone's newest fund is the industry's largest secondaries-focused vehicle since France's Ardian closed its Ardian Secondary Fund VIII on $19 billion in 2020, according to PitchBook data.

Verdun Perry, Global Head of Blackstone Strategic Partners, said: "We are incredibly grateful to our investors for their continued support. We remain committed to generating strong risk-adjusted returns for the millions of beneficiaries that our investors represent. With the substantial scale and our multi-strategy footprint, we believe we are well-positioned to capitalize on the vast, and growing, opportunities across the secondary market."

Investors in the new fund include the $124.7 billion Minnesota State Board of Investment, St. Paul.

The previous fund, Blackstone Strategic Partners Fund VIII along with its related committed program vehicles, closed at over $11 billion in 2019.

Blackstone Strategic Partners is focused on providing a range of liquidity solutions to both investors and private equity sponsors, including single interest and portfolio sales, ......................

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