Blackstone Inc (BX.N) has warned of possible delays to the launch of a new private equity fund designed for wealthy individuals, as it copes with heavy investor withdrawals at two other funds in real estate and credit aimed at a similar clientele, the Financial Times reported on Saturday.
The New York-based investment manager has been preparing to open a fund called the Blackstone Private Equity Strategies Fund (BXPE), the report said, adding that would become its flagship strategy for rich individuals to participate in its private equity business.
The asset manager in recent days informed wealthy investors and their financial advisers that it may wait for fundraising conditions and financial markets to improve before launching BXPE, the newspaper said, citing people familiar with the matter.
The clients of Blackstone’s other “retail” products expected the fund to be launched by early 2023, FT said.
Blackstone declined to comment on the report.
Source: Reuters
