Blackstone Group LP (BX) and Carlyle Group are most important a record number of private-equity managers aim to raise real estate funds as the world’s top coup firms go faster an expansion away from business takeovers.
Blackstone, the biggest private-equity firm, is preparation to raise its next real estate fund, with a objective of on the subject of $10 billion, later this year. Carlyle is in the process of rising a new fund for U.S. material goods deals, said a person brief on the plan who asked not to be named since the fund is secretive.
The two are among 439 private-equity real estate funds looking for a combined $160 billion, the largest number on record, according to London-based canvasser Preqin Ltd. KKR & Co. last month hired its first head of real estate, naming former Goldman Sachs Group Inc. (GS) managerial Ralph Rosenberg to the post. The firms are betting they can create profits in a still choppy market because their capital is locked up for long periods, typically a decade, permiting them to make improvement and remain out short-term price swings.
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