Blackstone Raises Record $22.2 Billion for Secondaries Fund

Blackstone Inc. secured a record $22.2 billion for a fund that will purchase stakes from pensions, endowments, and other investors as it extends beyond its buyout roots. Photo: Audience memebers discussing at a Blackstone press conference. Shutterstock media This is the largest secondary fund ever raised, greatly surpassing the company’s initial $13.5 billion goal. It...