Blackstone enjoys best quarter for individual investor fundraising in nearly two years

Re-accelerating private wealth demand

Momentum for Blackstone’s private wealth business is re-accelerating, president and COO Jonathan Gray said, as the world’s largest private equity firm enjoyed the best quarter for individual investor fundraising in nearly two years.

Sales into the firm's wealth channel in the first quarter of 2024 stood at $8bn, as subscriptions increased 83% from the previous quarter across Blackstone's three large scale perpetual vehicles BREIT, BCRED and the newly-launched private equity fund BXPE. In an investor call on Thursday (18 April), Gray said this was reflective of improving market sentiment, with BCRED leading the way raising $2.9bn, followed by BXPE, which raised $2.7bn in its debut quarter.  Inside Blackstone's multi-million dollar mission to democratise private markets The firm's real estate vehicle BREIT, whic...