Blackstone eyes Europe, Asia for real estate investment
NEW YORK CITY (AFP) - Global investment giant Blackstone is reshuffling its vast real estate portfolio, shedding US assets to buy new ones in Europe and Asia.
The New York-based firm has plenty of firepower, with US$64 billion (S$82 billion) in real estate assets under management, the world's largest portfolio in the sector.
Blackstone recently has been lining up its strategy with an eye on juicier investment prospects outside the United States.
That includes a slew of asset sales and IPOs of units to generate cash for other acquisitions.