Fund Managers

Blackstone Fund VI raises $8bn

The New York-based private equity firm’s latest fundraising efforts bring Blackstone’s total dry powder for private equity to $13bn. Reporting a $193.6m fourth quarter loss, Blackstone said it remains focused on investing in non-cyclical industries.

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The Blackstone Group has closed on roughly $8 billion for Blackstone Capital Partners VI to date, president and chief operating officer Tony “Hamilton” James said today in an investor call. The firm will begin investing the fund in late 2009 or early 2010.

Fund VI last year lowered its initial $20 billion target to between $15 billion and $20 billion.

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