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Laxman Pai, Opalesque Asia: American alternative investment management company Blackstone drew $5.2 billion for the fourth flagship commingled fund in its tactical opportunities business that seeks plays outside of traditional private equity and credit.
According to a media release from the asset management and alternative investments company, including other single-investor vehicles pursuing the same strategy, the combined Blackstone Tactical Opportunities Fund IV (BTO IV) platform is currently expected to have nearly $10 billion of new capital in its fourth fundraising vintage.
"This would be substantially higher than the BTO III platform ($4.2 billion for the flagship commingled fund, $8.7 billion inclusive of single-investor vehicles) and the largest-ever vintage of its kind," it said.
Investors in Blackstone's latest flagship fund include California State Teachers' Retirement System, West Sacramento; State of Wisconsin Investment Board, Madison; New Jersey Pension, Trenton; Indiana Public Retirement System, Indianapolis; and Louisiana Teachers' Retirement System, Baton Rouge.
Blackstone launched its Tactical Opportunities (Tac Opps) platform - a strategy the firm pioneered - in 2012 to invest across the landscape of private investment opportunities outside of traditional private equity and private credit, said the release.
Today, Tac Opps has $34 billion of assets under management and represents the largest opportunistic investmen...................... To view our full article Click here
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