London (Reuters) – Blackstone announced on Wednesday the closure of a European real estate fund of 9.8 billion euros, the American capital -investment group betting on the signs of resumption of the sector despite the aggravation of turbulence on the financial markets.
This fundraising, “Europe Real Estate Partners VII”, is according to Blackstone the largest grouping of external capital ever for European real estate.
“The resumption of real estate is looming on the horizon,” said James Seppala, head of European real estate at Blackstone, adding to see an environment “rich in opportunities”.
The real estate markets, which have shown signs of recovery in recent months, could nevertheless be impacted by the American customs duties of Donald Trump, the players in the sector suspect of any fallout on the activity.
The opportunistic strategies of Blackstone – which generally target high -risk real estate and requiring renovations, but offering high profitability potential – have raised nearly $ 47 billion (42.62 billion euros) of capital worldwide, the group said in a press release.
(Written by Iain Withers, Etienne Breban, edited by Augustin Turpin)
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