The Hong Kong-based firm has received an initial commitment of more than $400m from an anchor investor in the fund.
Although 38% of investors were overallocated to the asset class in 2023, only 27% plan to invest less capital this year.
The total of $138.93bn raised in 2023 represented a 41% drop from the $236.04bn raised in the 2021 fundraising peak.
The firm was aiming for $1.2bn for Value Fund VII, but raised the target last May, according to CEO Franz Colloredo-Mansfeld.
The Boston-based firm's co-founder gave four reasons why ‘this has been the toughest fundraising environment in our 30-year history.’
The German manager has raised around €300m to invest in social and affordable housing across western Europe.
Blackstone’s president said commercial real estate values are bottoming out and expected an uptick in realizations in H2.
Nearly half of the $4.5bn GCP raised across strategies came from RMB vehicles for the 12 months ended November 2023.
The ex-Blackstone real estate boss has included three strategies in the investing thesis for his new firm’s maiden fund.
The firm's predecessor fund has been fully deployed to LP and GP-led real estate secondaries transactions across the Asia-Pacific region.
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