Blackstone (NYSE: BX) today announced that its Tactical Opportunities business closed its fourth flagship commingled fund, Blackstone Tactical Opportunities Fund IV (“BTO IV”), raising a record $5.2 billion of capital commitments. Including other single-investor vehicles pursuing the same strategy, the combined BTO IV platform is currently expected to have nearly $10 billion of new capital in its fourth fundraising vintage. This would be substantially higher than the BTO III platform ($4.2 billion for the flagship comingled fund, $8.7 billion inclusive of single-investor vehicles) and the largest-ever vintage of its kind.
Blackstone launched its Tactical Opportunities (Tac Opps) platform – a strategy the firm pioneered – in 2012 to invest across the landscape of private investment opportunities outside of traditional private equity and private credit. Today, Tac Opps has $34 billion of assets under management and represents the largest opportunistic investment platform in the world. The Tac Opps team invests globally across asset classes, industries, and geographies, seeking to deliver compelling risk-adjusted returns by identifying and executing on attractive, differentiated investment opportunities. As thematic investors, Tac Opps leverages its team’s deep sector expertise while harnessing the scale and intellectual capital across Blackstone’s various businesses.
David Blitzer, Global Head of Tactical Opportunities, said: “We are grateful for this strong vote of confidence from our investors, whose continued support is a testament to our team’s ability to identify compelling opportunities amid fast-changing market conditions. Our expertise in nimbly deploying capital on a global basis, unconstrained by asset class, industry, or geography, allows us to deliver tailored solutions to exceptional businesses and strong results for our investors.”
Christopher James, Chief Operating Officer of Tactical Opportunities, said: “We created the Tactical Opportunities platform more than a decade ago to shine in periods of dislocation like we’ve seen recently. We believe our scale, flexible capital, and thematic investing focus positions us well to capitalize on the compelling opportunity set ahead.”
BTO IV has already made several notable recent investments. This includes CoreWeave, a specialized provider of critical cloud infrastructure pioneering the AI revolution, and New Tradition, a leading out-of-home media business that operates some of the most iconic advertising assets nationwide such as One Times Square in New York City and The Reef in Los Angeles, among others.
Blackstone is the world’s largest alternative asset manager. We seek to create positive economic impact and long-term value for our investors, the companies we invest in, and the communities in which we work. We do this by using extraordinary people and flexible capital to help companies solve problems. Our $1 trillion in assets under management include investment vehicles focused on private equity, real estate, public debt and equity, infrastructure, life sciences, growth equity, opportunistic, non-investment grade credit, real assets and secondary funds, all on a global basis. Further information is available at www.blackstone.com. Follow @blackstone on LinkedIn, Twitter, and Instagram.