63 evergreen funds have launched in 2024 YTD, taking total to 626

  • Alternatives giant Blackstone raised $7.5bn from private wealth in Q2 2024, accounting for 19% of total inflows of $39.4bn in the quarter.

  • Blackstone has raised $13bn from individual investors this year, more than it raised in the whole of 2023.

  • The firm’s private debt perpetual vehicle, BCRED, raised $3.4bn in the second quarter quarter taking its year-to-date fundraising total to $6.3bn. Blackstone raised $1.6bn for private equity (BXPE) and $903mn for real estate (BREIT) in the quarter.

  • Blackstone now has AUM of $129.0bn in its three largest perpetual vehicles, comprised of $67.9bn in BCRED, $56.7bn in BREIT, and $4.4bn in BXPE. In total, the firm has $241bn AUM in its Private Wealth Solutions business.

July 22, 2024 (Preqin News) – Blackstone is reaping the benefits of its investments targeting the private wealth segment, with $241bn of AUM from individual investors. The firm plans to launch two new perpetual vehicles in the next year: an infrastructure vehicle that will provide investors access to all strategies in this area, including equity, secondaries, and credit; and a vehicle that will invest across the firm’s credit platform.

Preqin has recorded a significant increase in evergreen funds (also known as open-ended funds, perpetual capital, and semi-liquid funds) in recent years. The number of funds (BDC, ELTIF, Interval Fund, LTAF, Non-Traded REIT, and Tender Offer) tracked doubled over the five years to December 2023, with 63 funds launching so far in 2024, taking the total to 626. Collectively, they have NAV of at least $390bn.

The opinions and facts included within the above do not constitute investment advice. Professional advice should be sought before making any investment or other decisions. Preqin providing the information in this content accepts no liability for any decisions taken in relation to the above.