Blackstone seeks $5 billion for second Asia buyout fund: Bloomberg Information

© Reuters. FILE PHOTO: The ticker and buying and selling info for Blackstone Group is displayed on the put up the place it’s traded on the ground of the New York Inventory Alternate

(Reuters) – Blackstone Group (NYSE:) Inc is looking for to boost at the least $5 billion for its second personal fairness fund centered on Asia, Bloomberg Information reported on Sunday, citing folks accustomed to the matter.

With this new car, Blackstone plans to greater than double the scale of its first Asia buyout fund, Bloomberg reported (https://www.bloomberg.com/information/articles/2020-11-22/blackstone-said-to-seek-at-least-5-billion-for-second-asia-fund?sref=SCAzRb9t). The corporate closed its first Asian personal fairness fund at about $2.3 billion in 2018.

Blackstone didn’t instantly reply to a Reuters’ request for remark.

The U.S. personal fairness agency has began advertising and marketing the brand new car to potential traders, and it may improve the scale of its newest car relying on the extent of demand within the coming months, the Bloomberg report added.

(This story has been refiled so as to add lacking phrase in first paragraph)

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