Blackstone Group LP is reportedly hoping to raise $18 billion for its biggest real estate fund ever. The multinational private equity company is aiming distressed properties globally to invest in with this fund, according to people familiar wih the plans (as reported by Bloomberg). An earlier fund for similar assets gathered $15.8 billion in 2015 for the company.
There is an growing trend among institutional investors (such as public pension plans and insurance companies) to allocate relatively large amounts among real estate assets, according to a Bloomberg article. That means, Blackstone might potentially manage to achieve a solid funding, if it really goes ahead with the real estate fund plan.