Blackstone Closed Fourth Commingled Flagship Fund - Largest-Ever Vintage Of Its Kind

Blackstone Inc BX disclosed that its Tactical Opportunities business closed the fourth flagship commingled fund, Blackstone Tactical Opportunities Fund IV (BTO IV), raising a record capital commitment of $5.2 billion.

The combined BTO IV platform (including single-investor vehicles) is expected to contain new capital of around $10 billion in its fourth fundraising vintage.

BTO IV is the largest-ever vintage of its kind and considerably higher than the BTO III platform, with $4.2 billion for the flagship comingled fund and $8.7 billion, including single-investor vehicles.

BX launched its Tactical Opportunities (Tac Opps) platform in 2012 to invest across private investment opportunities. 

As of today, Tac Opps has assets under management of $34 billion, representing the largest global opportunistic investment platform. 

Recently, BTO IV has already made several notable investments, including CoreWeave (a specialized provider of critical cloud infrastructure pioneering the AI revolution) and New Tradition (an out-of-home media business comprising the most iconic advertising assets nationwide).

"We are grateful for this strong vote of confidence from our investors, whose continued support is a testament to our team's ability to identify compelling opportunities amid fast-changing market conditions. Our expertise in nimbly deploying capital on a global basis, unconstrained by asset class, industry, or geography, allows us to deliver tailored solutions to exceptional businesses and strong results for our investors," said David Blitzer, Global Head of Tactical Opportunities.

As of Q2, BX's assets under management stood at $1.00 trillion. 

Price Action: BX shares are trading higher by 0.41% at $99.12 on the last check Monday.