Private equity firm Blackstone Group (BX.N) said it expects to start fundraising this year for its next real estate fund, which could be about the same size as its $10 billion 2008 fund. Blackstone, sitting on about $30 billion of capital to invest, has been active in buying U.S. commercial real estate such as hotels, retail property and warehouse space from distressed owners and others who need cash. The company is unusual in its peer group of private equity firms in having huge real estate assets. It is seeing a recovery in the office and hospitality real estate sectors, and said concerns about inflation are increasing the interest in real estate as an investment.
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