​Blackstone raises over €1bn for open-ended Europe infrastructure fund

Blackstone’s open-ended core and core-plus European infrastructure fund has raised over a billion euros, according to Jonathan Gray, Blackstone’s president and COO, during the company’s third-quarter earnings call.

As previously reported, Blackstone aims to raise €1bn to €2bn initially for Blackstone Infrastructure Partners (BIP) Europe.

IPE Real Assets also reported back in August that the Pennsylvania Public School Employees’ Retirement System had approved a €200m commitment to BIP Europe.

BIP Europe, which aims for net internal rates of return between 10% and 12%, will not be a blind pool fund. Instead, it will invest in five specific companies that Blackstone Infrastructure Partners has already invested in: Mundys, QTS, ASPI, Phoenix Towers International and Applegreen.

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