Strategic Partners Fund Solutions Closes Seventh Private Equity Fund at $7.5 Billion
New York, NY – January 24th, 2017. Strategic Partners Fund Solutions (“Strategic Partners”), Blackstone’s (NYSE:BX) dedicated secondary and fund solutions platform, today announced the final closing on the hard cap of $7.5 billion for Strategic Partners Fund VII, L.P. and related entities (“SP VII”), its seventh global secondary private equity fund. SP VII is comprised of a global investor base of pension funds, sovereign wealth funds, financial institutions, endowments, foundations and family offices that originate from approximately 25 countries. We began investing SP VII in May and have already closed the first transactions for the fund.
Commenting on the closing, Stephen Can, Co-Head of Strategic Partners, said, “We are deeply thankful for our investors’ continued support and are working diligently to produce long-term returns for them.”
Verdun Perry, Co-Head of Strategic Partners, added, “With our experience and global reach, we believe Strategic Partners is well-positioned to capitalize on the ongoing opportunities to generate strong, risk-adjusted returns in the secondary private equity market.”
Strategic Partners was supported in the raising of SP VII by the private funds team at Davis Polk & Wardwell LLP.
About Strategic Partners
Strategic Partners Fund Solutions is a leading secondary and fund solutions platform. Since 2000 Strategic Partners has raised over $27 billion dedicated to private equity and real asset fund investing. Focusing on opportunities in funds globally, Strategic Partners is recognized as an innovative and market-leading private equity and real asset investor, with broad transaction capabilities that reinforce its already established reputation as a nimble and responsive investor. Strategic Partners has executed over 1,000 transactions that represent interests in over 2,850 unique underlying funds managed by over 800 different financial sponsors.
About Blackstone
Blackstone is one of the world’s leading investment firms. We seek to create positive economic impact and long-term value for our investors, the companies in which we invest, and the communities in which we work. We do this by using extraordinary people and flexible capital to help companies solve problems. Our asset management businesses, with over $360 billion in assets under management, include investment vehicles focused on private equity, real estate, public debt and equity, non-investment grade credit, real assets and secondary funds, all on a global basis. Further information is available at www.blackstone.com. Follow Blackstone on Twitter @Blackstone.
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