Strategic Partners Fund Solutions (“Strategic Partners”), Blackstone’s (NYSE:BX) dedicated secondary and fund solutions platform, announced the final closing on the hard cap of $7.5 billion for Strategic Partners Fund VII, L.P. and related entities (“SP VII”), its seventh global secondary private equity fund. SP VII is comprised of a global investor base of pension funds, sovereign wealth funds, financial institutions, endowments, foundations and family offices that originate from approximately 25 countries. We began investing SP VII in May and have already closed the first transactions for the fund.

Commenting on the closing, Stephen Can, Co-Head of Strategic Partners, said, “We are deeply thankful for our investors’ continued support and are working diligently to produce long-term returns for them.”

Verdun Perry, Co-Head of Strategic Partners, added, “With our experience and global reach, we believe Strategic Partners is well-positioned to capitalize on the ongoing opportunities to generate strong, risk-adjusted returns in the secondary private equity market.”

Strategic Partners was supported in the raising of SP VII by the private funds team at Davis Polk & Wardwell LLP.

Source: Blackstone