Blackstone Group is making plans to launch a private equity fund for wealthy individuals after a months-long delay, resuming a push to expand by reaching beyond its base of institutional clients such as pension funds.
The $1tn-in-assets private capital group will late this year begin taking subscriptions for the Blackstone Private Equity Strategies Fund, or BXPE, according to two people with direct knowledge of the matter.
Blackstone shelved the launch late last year after its flagship $67bn property fund, called Breit, was forced to limit redemptions. The manoeuvre underscored the risks of private funds with limited ability to quickly exit investments.
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