Strategic Partners Fund Solutions, Blackstone’s dedicated secondary and fund solutions business, has finalized the closing on the hard cap of $1.75 billion for Strategic Partners Real Assets II L.P. and related entities referred to as “SP RA II”, its second global infrastructure-focused secondary fund. SP RA II’s global investor base is comprised of sovereign wealth funds, pension funds, financial institutions, endowments, foundations and family offices. SP RA II began investing in May 2017 and has already closed or partially closed 14 transactions.
Stephen Can, senior manager director and co-head of Strategic Partners, said, “We are deeply thankful for our investors’ continued support and are working diligently to produce attractive risk-adjusted returns for them.”
Verdun Perry, senior managing director and co-head of Strategic Partners, said, “We have one of the widest footprints in all of private equity. With our experience and global reach, we believe Strategic Partners is well positioned to capitalize on the dramatic increase in secondary infrastructure opportunities.”
Mark Bhupathi, principal and head of Real Assets, said, “This new dedicated pool of capital is critical to unlocking new opportunities across the secondary market as infrastructure and real assets become a larger and more important part of investor portfolios. As one of the first movers in this space, we are seeing a multitude of attractive opportunities to provide our limited partners with exposure to this asset class.”
Strategic Partners is a secondary private equity and private fund investing. Since 2000, Strategic Partners has raised $31 billion dedicated to private equity, real estate and infrastructure fund investing. Focusing on opportunities in funds globally, Strategic Partners is recognized as an innovative and market-leading investor, with broad transaction capabilities that reinforce its reputation as a nimble and responsive investor. Strategic Partners has executed over 1,100 transactions that represent interests in over 3,300 underlying funds managed by over 1,000 different financial sponsors.
Blackstone, the investment firms, has over $430 billion in assets under management, including investment vehicles focused on private equity, real estate, public debt and equity, non-investment grade credit, real assets and secondary funds, all on a global basis.
Media reports cite India as Blackstone’s most profitable market as at March 2018. Among its flurry of investments in India, news report emerged on 4 April 2018 that the Blackstone Group has invested an estimated Rs 800 crore in two commercial real estate office projects under-construction in Hyderabad by developers the Salarpuria Sattva Group. Two days prior to this it was reported that the investment firm had purchased an auto parts manufacturer from Chennai, Comstar Automotive Technologies, for around Rs 1000 crore.