Blackstone posts surge in real estate AUM

Blackstone saw assets under management in its real estate division jump by almost a third during the past quarter, a period during which the private equity giant held a final close for the world’s largest property fund and struck the biggest property deal on record.

The firm said real estate AUM stood at $157.1bn as of 30 September, a rise of 31% on the third quarter of 2018.

Acquisitions included the $18.7bn purchase of a logistics portfolio from GLP, the largest private real estate deal on record. Blackstone also made $4.6bn-worth of disposals during the three