Steve Schwarzman, co-founder, chairman and CEO of Blackstone, said at the recent 2024 World Economic Forum in Davos that Blackstone is looking at a large number of investment opportunities in real estate across Europe, with a focus on data centers, warehouses and student housing transactions in Europe as central banks raise interest rates less aggressively and real estate transactions begin to open**. But for the U.S. housing market, Schwarzman doesn't think it's optimistic. The United States does not have more opportunities than Europe.
In the interview, Schwarzman was "quite confident" about the Fed's prospects for rate cuts and said Blackstone would be more active in 2024. According to him, Blackstone currently has $200 billion in outstanding funds.
In the fourth quarter of 2023, Blackstone raised $52.7 billion, bringing the full-year fundraising to $148.5 billion, with AUM reaching $104 trillion US dollars, a year-on-year increase of 7%. The majority of the proceeds came from the credit and insurance sector, which raised $23.2 billion in the fourth quarter, outpacing private equity and real estate.
Since the end of last year, Blackstone has made frequent moves in the real estate sector. After Blackstone and the Federal Deposit Insurance Corporation (FDIC) agreed to acquire Signature Bank's portfolio of commercial property debt, a Blackstone-led joint venture is trying to ** commercial real estate loans offered by Signature Bank. These $1.8 billion worth of performance loans are primarily backed by multifamily properties.
In January, Blackstone agreed to acquire Tricon Residential, a large single-family rental company, for $3.5 billion**, further strengthening Blackstone's leadership in single-family rentals. Three years ago, Blackstone paid $6 billion to acquire Home Partners of America, a leading company in the U.S. single-family rental market, offering rent-to-own services to tenants.
Reference 1 the real deal，blackstone’s steve schwarzman: ‘we h**e a lot of money and like to buy things’
2. the real deal，why blackstone bet $6 billion on home partners of america
3. bloomberg，blackstone’s schwarzman says rate cut expectations are creating animal sprits
4. cnbc，blackstone ceo steve schwarzman: we're going to be a lot more active in 2024 than we h**e been
5.Fortune,Blackstone plans to buy a lot of commercial real estate of all kinds in Europe [Disclaimer].
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