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Tuesday, September 16, 2014

Blackstone Group seeks to raise $16 billion for its latest fund -WSJ, (NYSE: BX)

Blackstone Group LP is aiming to raise about $16 billion for its latest takeover fund, the Wall Street Journal reported, citing sources familiar with the matter. The firm has already issued marketing documents for Blackstone Capital Partners VII LP, the newspaper reported.( fund's predecessor, Blackstone Capital Partners VI LP, was launched in 2008 and closed four years later, raising just over $16 billion in investments, challenged by the global financial crisis.Blackstone Capital Partners VI attracted some of the world's largest private-equity investors, including the California Public Employees' Retirement System and Canada Pension Plan Investment Board, according to disclosures by these pension funds. ( at Blackstone were not immediately reachable for comment outside regular U.S. business hours. (Reporting By Shivam Srivastava in Bangalore; Editing by Gopakumar Warrier)

The Blackstone Group L.P. (Blackstone) is a manager of private capital and provider of financial advisory services. Shares of BX fell by 0.65% or $-0.21/share to $32.16. In the past year, the shares have traded as low as $23.60 and as high as $36.08. On average, 4250140 shares of BX exchange hands on a given day and today's volume is recorded at 2953101.