Blackstone raises more than $9 billion

Blackstone Group said it has raised about USD 9.4 billion in new Asia-focused funds, including its first private equity fund for the region, adding to a massive industry-wide pool of money for Asian acquisitions and investments. Blackstone said its real estate fund was the largest ever dedicated to real estate investing in Asia. The US private equity firm closed the Asian private equity fund at about USD 2.3 billion, while raising USD 7.1 billion for its second regional "opportunistic" real estate fund, it said in two separate statements. Investor interest in Asia-focused private equity has grown as deals have increased in size following corporate restructuring and as global private equity funds make headway in key markets, including China, India and Japan.