Blackstone Completes First Close for its RMB Fund
Shanghai, April 8th, 2011 – The Blackstone Group (NYSE:BX) today announced the First Close of its RMB Fund – the Shanghai Blackstone Equity Investment Partnership (Limited Partnership). Blackstone has received commitments from Chinese government entities, state-owned enterprises, and large domestic corporations. The target size of the Fund is RMB 5 billion and is intended to make growth equity investments in companies in China.
About Blackstone
Blackstone is one of the world’s leading investment and advisory firms. We seek to create positive economic impact and long-term value for our investors, the companies we invest in, the companies we advise and the broader global economy. We do this through the commitment of our extraordinary people and flexible capital. Our alternative asset management businesses include the management of private equity funds, real estate funds, hedge fund solutions, credit- oriented funds and closed-end mutual funds. The Blackstone Group also provides various financial advisory services, including financial and strategic advisory, restructuring and reorganization advisory and fund placement services. Further information is available at www.blackstone.com.
Contact:
Peter Rose
The Blackstone Group
New York
+ 1 212.583.5871