About This Fund
Blackstone Real Estate Partners X (“BREP X”) fund is a 2022 vintage real estate opportunistic fund managed by Blackstone. It achieved final close with $30.4 billion of total capital commitments, making it the largest real estate or private equity drawdown fund ever raised by Blackstone. This fund is part of Blackstone's 3 opportunistic strategies (Global, Asia, Europe) which now have $50 billion of capital commitments. Blackstone Real Estate has shifted its portfolio away from assets such as traditional office and malls and is now approximately 80% concentrated in logistics, rental housing, hospitality, lab office, and data centers. With its scale and discretionary capital, BREP X is well-positioned to capitalize on opportunities across the globe in these highest conviction sectors. The fund seeks to acquire undermanaged, well-located assets across the world, focusing on logistics, residential, office, hospitality, and retail sectors. The Blackstone Real Estate team was founded in 1991 and today is led by Ken Caplan and Kathleen McCarthy, Global Co-Heads of Blackstone Real Estate, with 43 other Senior Managing Directors around the world. The Blackstone Real Estate team has over 700 dedicated professionals across 11 offices including over 400 professionals in the United States. BREP X will be opportunistic in its portfolio composition and does not have a specific sector/geographic allocation. Blackstone believes that this flexibility is an advantage as they can adapt to changing market environments and seek to acquire assets in the most attractive sectors and markets as opportunities arise. BREP X will primarily focus on investing in the U.S. but will opportunistically allocate around the globe.