NEW YORK, August 8 /CNW/ - The Blackstone Group (NYSE: BX) today
announced the final closing of its latest global private equity fund,
Blackstone Capital Partners V (BCP V).
Together with previously announced commitments this closing brings total
commitments to $21.7 billion. BCP V, like its predecessor funds, will be
invested across a broad range of sectors and geographical locations.
Investments with a total enterprise value of approximately $84 billion,
have already been committed to BCP V, and include Nielsen Company, Michaels
Stores, Alliance Data Systems, Biomet, Freescale Semiconductor, Hilton Hotels,
and Center Parcs. The combined equity participation in all transactions
committed to date already accounts for two-thirds of the fund's available
Since The Blackstone Group started its private equity investment business
in 1987, the firm has raised a total of approximately $67 billion for
alternative asset investing, making it one of the world's largest independent
alternative asset managers. Blackstone also manages approximately $23 billion
in discretionary marketable alternative asset programs, approximately $4
billion in proprietary hedge funds, and over $2 billion in mutual funds.
Blackstone's private equity business currently has investments in 49
portfolio companies with combined annual revenues in excess of $90 billion
employing over 500,000 people around the globe.
Stephen A. Schwarzman, Chairman, CEO and Co-Founder of The Blackstone
Group, said, "This further vote of confidence from our investors is extremely
gratifying. The record-breaking amount of capital at our disposal allows us to
continue our leadership role in private equity investing on a global basis."
The Blackstone Group was assisted in its fund-raising by Park Hill Group,
a Blackstone affiliate.
About The Blackstone Group
The Blackstone Group is a leading global alternative asset manager and
provider of financial advisory services. Its alternative asset management
businesses include the management of corporate private equity funds, real
estate opportunity funds, funds of hedge funds, mezzanine funds, senior debt
vehicles, proprietary hedge funds and closed-end mutual funds. The Blackstone
Group also provides various financial advisory services, including corporate
and mergers and acquisitions advisory, restructuring and reorganization
advisory and fund placement services. Further information is available at
This release does not constitute an offer of any Blackstone fund.
For further information:
For further information: The Blackstone Group John Ford, 212-583-5559