China Invests in Blackstone Real Estate Fund

[Corey Dutton]

China plunks down $500 MM in one of Blackstone’s real estate funds. This fund is set to be the biggest fund of this type, having already raised a whopping $12 billion. This is a real estate private-equity fund managed by Blackstone Group LP, best known for his massive purchase of office buildings in 2007 from Equity Office Properties.

Stephen A. Schwarzman, Blackstone's CEO, said, "This gives us by far the largest pool of dry powder capital in the industry at a time when we are seeing highly attractive investment opportunities due to the level of distress and the need to deleverage around the globe." Read the original article on WSJ online here: http://online.wsj.com/article/SB10000872396390443477104577550574246215012.html