Private equity and real estate investor Blackstone Group (BX.N) said it expects to start fundraising for its next real estate fund this year, which could be around the same size as its $10 billion 2008 fund. "Real estate had a great year," said Blackstone's COO, Tony James, on a conference call to discuss the company's earnings. Blackstone invested nearly $5 billion in real estate in 2010, he said. Its current real estate fund, Blackstone Real Estate Partners VI, is about 70 percent invested and as a result it will start fundraising for its next real estate fund this year, BREP VII, James said.
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